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# A corporation that had $115.19 billion in profits for the year paid ou SORT BY: Tags: Show Tags Hide Tags Math Expert Joined: 02 Sep 2009 Posts: 94407 Own Kudos [?]: 642113 [47] Given Kudos: 85997 Most Helpful Reply Math Expert Joined: 02 Sep 2009 Posts: 94407 Own Kudos [?]: 642113 [14] Given Kudos: 85997 General Discussion Manager Joined: 20 Dec 2013 Posts: 183 Own Kudos [?]: 291 [2] Given Kudos: 35 Location: India Intern Joined: 13 Feb 2013 Posts: 19 Own Kudos [?]: 32 [3] Given Kudos: 3 Location: United States Concentration: Finance, General Management Schools: Harvard '24 GMAT Date: 07-28-2014 GPA: 3.75 WE:Consulting (Computer Software) Re: A corporation that had$115.19 billion in profits for the year paid ou [#permalink]
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required answer = [employee benefit/profit] *100
=[(230.10 million)/(115.19 billion)]*100
=[(230.10*10^6)/(115.19*10^9)]*100
=(2/1000)*100
=0.2%

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Re: A corporation that had $115.19 billion in profits for the year paid ou [#permalink] 1 Kudos $$\frac{230.10 * 10^6}{115.19 * 10^9} * 100$$ $$= \frac{2}{10} = 0.2%$$ Answer = E Target Test Prep Representative Joined: 14 Oct 2015 Status:Founder & CEO Affiliations: Target Test Prep Posts: 19172 Own Kudos [?]: 22671 [2] Given Kudos: 286 Location: United States (CA) Re: A corporation that had$115.19 billion in profits for the year paid ou [#permalink]
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Bunuel wrote:
The Official Guide For GMAT® Quantitative Review, 2ND Edition

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%

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%

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Re: A corporation that had $115.19 billion in profits for the year paid ou [#permalink] Bunuel wrote: The Official Guide For GMAT® Quantitative Review, 2ND Edition 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% Problem Solving Question: 101 Category: Arithmetic Percents; Estimation Page: 74 Difficulty: 550 GMAT Club is introducing a new project: The Official Guide For GMAT® Quantitative Review, 2ND Edition - Quantitative Questions Project Each week we'll be posting several questions from The Official Guide For GMAT® Quantitative Review, 2ND Edition and then after couple of days we'll provide Official Answer (OA) to them along with a slution. We'll be glad if you participate in development of this project: 1. Please provide your solutions to the questions; 2. Please vote for the best solutions by pressing Kudos button; 3. Please vote for the questions themselves by pressing Kudos button; 4. Please share your views on difficulty level of the questions, so that we have most precise evaluation. Thank you! 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. Board of Directors Joined: 11 Jun 2011 Status:QA & VA Forum Moderator Posts: 6049 Own Kudos [?]: 4766 [0] Given Kudos: 463 Location: India GPA: 3.5 WE:Business Development (Commercial Banking) Re: A corporation that had$115.19 billion in profits for the year paid ou [#permalink]
Bunuel wrote:
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%

$$\frac{230.10}{(115.19*1000)}*100 = 0.2$$, Answer must be (E)
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Re: A corporation that had $115.19 billion in profits for the year paid ou [#permalink] 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) Tutor Joined: 11 May 2022 Posts: 1085 Own Kudos [?]: 733 [0] Given Kudos: 81 Re: A corporation that had$115.19 billion in profits for the year paid ou [#permalink]
Bunuel wrote:
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%

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%.

Tutor
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Affiliations: GMAT Coach
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Own Kudos [?]: 1182 [0]
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Location: United States (WA)
GMAT 1: 760 Q50 V44
GMAT 2: 770 Q51 V44
GMAT 3: 770 Q50 V44
GMAT 4: 770 Q50 V45 (Online)
GMAT 5: 780 Q51 V48
A corporation that had $115.19 billion in profits for the year paid ou [#permalink] Expert Reply ThatDudeKnows wrote: Bunuel wrote: 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% 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. 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% Attachments 2022-10-27 17_16_37-Window.png [ 248.47 KiB | Viewed 8027 times ] Senior Manager Joined: 23 Dec 2022 Posts: 312 Own Kudos [?]: 36 [0] Given Kudos: 199 Re: A corporation that had$115.19 billion in profits for the year paid ou [#permalink]
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%. Tutor Joined: 21 Mar 2017 Status:Professional GMAT Trainer Affiliations: GMAT Coach Posts: 429 Own Kudos [?]: 1182 [0] Given Kudos: 204 Location: United States (WA) GMAT 1: 760 Q50 V44 GMAT 2: 770 Q51 V44 GMAT 3: 770 Q50 V44 GMAT 4: 770 Q50 V45 (Online) GMAT 5: 780 Q51 V48 A corporation that had$115.19 billion in profits for the year paid ou [#permalink]