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# A corporation that had $115.19 billion in profits for the  post reply Question banks Downloads My Bookmarks Reviews Important topics Author Message Manager Joined: 09 Aug 2005 Posts: 72 Followers: 1 Kudos [?]: 2 [0], given: 0 A corporation that had$115.19 billion in profits for the [#permalink]

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28 Aug 2006, 13:18
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A corporation that had $115.19 billion in profits for the first year paid out$230.10 million in employee benefits. Approximately what percentage of the profits were the benefits? (1 billion = 10^9)

(a) 50%
(b) 20%
(c) 5%
(d) 2%
(e) 0.2%

I was sure of my answer... until the official answer turned out different!! will post the OA by end of day (EST).
VP
Joined: 02 Jun 2006
Posts: 1263
Followers: 2

Kudos [?]: 87 [0], given: 0

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28 Aug 2006, 13:29
This should be straightforward...

Approx. 230 x 10^6 x 100/115 x 10^9 = 2 x 100/1000 = 0.2%
Manager
Joined: 09 Aug 2005
Posts: 72
Followers: 1

Kudos [?]: 2 [0], given: 0

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28 Aug 2006, 13:42
Thanks, Haas. Thats the OA.

But what PERCENTAGE of the profits are the benefits?
Isnt that = benefits/ profits * 100?

That would give me 20%.

Am I mistaking the wording of the question?

MG
VP
Joined: 02 Jun 2006
Posts: 1263
Followers: 2

Kudos [?]: 87 [0], given: 0

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28 Aug 2006, 13:50