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### Show Tags

05 Jun 2018, 01:25
1
2
00:00

Difficulty:

85% (hard)

Question Stats:

35% (01:52) correct 65% (02:03) wrong based on 46 sessions

### HideShow timer Statistics

At Megalomania Industries, factory workers were paid $20 per hour in 1990 and$10 per hour in 2000. The CEO of Megalomania Industries was paid $5 million per year in 1990 and$50 million per year in 2000. The percent increase in the pay of Megalomania’s CEO from 1990 to 2000 was what percent greater than the percent the decrease in the hourly pay of Megalomania’s factory workers over the same period?

A) 850%

B) 900%

C) 950%

D) 1,700%

E) 1,900%

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### Show Tags

05 Jun 2018, 04:00

Solution

Given:
• Factory workers were paid $20 per hour in 1990 and$10 per hour in 2000
• CEO was paid $5 million per year in 1990 and$50 million per year in 2000

To find:
• The percent increase in the CEO’s pay was what percent greater than the percent decrease in the factory workers’ hourly pay

Approach and Working:
• The percent decrease in the hourly pay of factory workers = $$\frac{(20 – 10)}{20} * 100 = 50%$$
• The percent increase in the CEO’s pay = $$\frac{(50 – 5)}{5} * 100 = 900%$$
• The percentage by which 900 is more than 50 = $$\frac{(900 – 50)}{50} * 100 = 1700%$$

Hence, the correct answer is option D.

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Re: At Megalomania Industries, factory workers were paid $20 per hour in [#permalink] ### Show Tags 10 Feb 2019, 10:48 Hi All, We're told that at Megalomania Industries, factory workers were paid$20 per hour in 1990 and $10 per hour in 2000 and the CEO of Megalomania Industries was paid$5 million per year in 1990 and $50 million per year in 2000. We're asked for what percent greater was the percent increase in the pay of Megalomania’s CEO from 1990 to 2000 was what percent greater than the percent the decrease in the hourly pay of Megalomania’s factory workers over the same period. This question is based on the Percent Change Formula: (New - Old)/(Old) = (Difference)/(Original) The CEO's salary percent increase = (50 million - 5 million)/(5 million) = 45/5 = 9 = 900% = 900% increase in salary The worker's hourly percent decrease = (10 - 20)/(20) = -10/20 = -1/2 = -50% = 50% decrease in hourly pay 900 is what percent greater than 50?.... (900 - 50)/(50) = 850/50 = 17 = 1700% greater Final Answer: GMAT assassins aren't born, they're made, Rich _________________ 760+: Learn What GMAT Assassins Do to Score at the Highest Levels Contact Rich at: Rich.C@empowergmat.com # Rich Cohen Co-Founder & GMAT Assassin Special Offer: Save$75 + GMAT Club Tests Free
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Re: At Megalomania Industries, factory workers were paid $20 per hour in [#permalink] ### Show Tags 12 Feb 2019, 19:45 Bunuel wrote: At Megalomania Industries, factory workers were paid$20 per hour in 1990 and $10 per hour in 2000. The CEO of Megalomania Industries was paid$5 million per year in 1990 and $50 million per year in 2000. The percent increase in the pay of Megalomania’s CEO from 1990 to 2000 was what percent greater than the percent the decrease in the hourly pay of Megalomania’s factory workers over the same period? A) 850% B) 900% C) 950% D) 1,700% E) 1,900% First, let’s calculate the percent decrease for the workers, using the formula (New - Old)/Old x 100: (10 - 20)/20 x 100 = 50% decrease Next we calculate the percent increase for the CEO: (50,000,000 - 5,000,000)/5,000,000 x 100 45,000,000/5,000,000 x 100 9 x 100 = 900% increase Thus: (900 - 50)/50 x 100 850/50 x 100 = 1700% Answer: D _________________ Scott Woodbury-Stewart Founder and CEO GMAT Quant Self-Study Course 500+ lessons 3000+ practice problems 800+ HD solutions Re: At Megalomania Industries, factory workers were paid$20 per hour in   [#permalink] 12 Feb 2019, 19:45
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