A corporation that had $115.19 billion in profits for the year paid ou

Question

A corporation that had $115.19 billion in profits for the year paid out $230.10 million in employee benefits. Approximately what percent of the profits were the employee benefits? (Note: 1 billion = 10^9)

(A) 50%
(B) 20%
(C) 5%
(D) 2%
(E) 0.2%

(A) 50%
(B) 20%
(C) 5%
(D) 2%
(E) 0.2%

Bunuel · Accepted Answer

SOLUTION

A corporation that had $115.19 billion in profits for the year paid out $230.10 million in employee benefits. Approximately what percent of the profits were the employee benefits? (Note: 1 billion = 10^9)

(A) 50%
(B) 20%
(C) 5%
(D) 2%
(E) 0.2%

(A) 50%
(B) 20%
(C) 5%
(D) 2%
(E) 0.2%

We should find the value of  \frac{230.10*10^6}{115.19*10^9}\approx{\frac{230*10^6}{115*10^9}}=2*10^{-3}=0.002=0.2% .

Answer: E.

AKG1593 · Answer

Option E.
1 billion=1000 million
=>we've to calculate,(230/115000)*100
Approx=0.2%

beatthegmat05 · Answer

required answer =   *100
 = *100
 = *100
 =(2/1000)*100
 =0.2%

So answer is (E)

PareshGmat · Answer

\frac{230.10 * 10^6}{115.19 * 10^9} * 100

= \frac{2}{10} = 0.2%

Answer = E

ScottTargetTestPrep · Answer

We can create the following expression:

230,100,000/115,190,000,000

(2,301)/(1,151,900) ≈ 2,000/1,000,000 = 2/1,000 = 0.002 = 0.2%

Answer: E

unraveled · Answer

If 1 million is 0.1% of 1 billion then 115 million would be 0.1% of 115 Billion. Thus, 230 million would be 0.2% of 115 billion.

Answer E.

Abhishek009 · Answer

\frac{230.10}{(115.19*1000)}*100 = 0.2 , Answer must be (E)

Sabby · Answer

Hi,

230*10^6 / 115*10^9 = 2*10^6-9 = 2*10^-3
Now, we have to express our result in percent : 2*10^-3/10^2 = 2*10^-1 = 0,2%

Answer E)

ThatDudeKnows · Answer

Why aren't we just glancing at the answer choices on a question like this?

230,000,000/115,000,000,000

Cross out seven zeroes from the top and bottom.

23/11,500

Is that more than 1% or less than 1%? Less than 1%.

Answer choice E.

GMATCoachBen · Answer

Yes, great solution and strategy to use the answer choices.

Here's another explanation below, rounding and converting billions to millions (1 billion = 1,000 million), so that we have:
 200 million/100,000 million * 100% = 0.2%

ArnauG · Answer

Employee benefits = $230.10 million
Profits = $115.19 billion

First, let's convert the profits from billion to million:
$115.19 billion = $115.19 billion * $1 billion/$1 million = $115,190 million

Now we can calculate the percentage:
Percentage = (Employee benefits / Profits) * 100
Percentage = ($230.10 million / $115,190 million) * 100
Percentage ≈ 0.1999%

Rounded to the nearest percent, the employee benefits represent approximately 0.2% of the profits.

Therefore, the answer is (E) 0.2%.

GMATCoachBen · Answer

Video solution here:

https://www.youtube.com/watch?v=r1LttzSRYvI

nikiki · Answer

There is no need to solve for the actual value
What is asked is (employee benefits)/(profits) * 100

employee benefits is in millions
profit is in billions

numerator is smaller than the denominator, the fraction will obviously be less than 1.
Only option E satisfies that

Special mention to  BrentGMATPrepNow , going through your solutions helped me optimize my strategy.

Cheers.

A corporation that had $115.19 billion in profits for the year paid ou

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