Last visit was: 25 Apr 2024, 01:21 It is currently 25 Apr 2024, 01:21

Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Close
Request Expert Reply
Confirm Cancel
SORT BY:
Date
Math Expert
Joined: 02 Sep 2009
Posts: 92904
Own Kudos [?]: 618875 [1]
Given Kudos: 81588
Send PM
avatar
Manager
Manager
Joined: 17 Nov 2013
Posts: 68
Own Kudos [?]: 56 [1]
Given Kudos: 47
Concentration: Strategy, Healthcare
GMAT 1: 710 Q49 V38
GPA: 3.34
WE:Business Development (Health Care)
Send PM
User avatar
Manager
Manager
Joined: 17 Mar 2015
Posts: 106
Own Kudos [?]: 211 [1]
Given Kudos: 4
Send PM
Manager
Manager
Joined: 26 Dec 2012
Posts: 132
Own Kudos [?]: 51 [2]
Given Kudos: 4
Location: United States
Concentration: Technology, Social Entrepreneurship
WE:Information Technology (Computer Software)
Send PM
Re: Because he’s taxed by his home planet, Mork pays a tax rate of 40% on [#permalink]
2
Kudos
Assume Mork income = x=> Mindy income =3x; from given equation we can write that:
Mindy tax=3*.3X=.9x; Mork Tax=.4x
Total tax=.4x+.9x=1.3x
Combined tax=1.3x/4x *100=32.5%
Hence answer is A

Thanks,
User avatar
Retired Moderator
Joined: 06 Jul 2014
Posts: 1010
Own Kudos [?]: 6341 [1]
Given Kudos: 178
Location: Ukraine
Concentration: Entrepreneurship, Technology
GMAT 1: 660 Q48 V33
GMAT 2: 740 Q50 V40
Send PM
Because he’s taxed by his home planet, Mork pays a tax rate of 40% on [#permalink]
1
Kudos
Bunuel wrote:
Because he’s taxed by his home planet, Mork pays a tax rate of 40% on his income, while Mindy pays a rate of only 30% on hers. If Mindy earned 3 times as much as Mork did, what was their combined tax rate?

(A) 32.5%
(B) 34%
(C) 35%
(D) 36%
(E) 37.5%

Kudos for a correct solution.


It's possible to solve such task mentally without any equations.
Difference between Mork and Mindi = 40% - 30% = 10%
In common we have 4 parts: 1 Mork + 3 Mindi
10% / 4 = 2,5% in one part.

And as Mindi has more weight in this situation, common percent will be closer to her and will be on 1 part distance and will be equal 30% + 2,5% = 32,5%
If they have equal parts 2:2, 3:3 etc combine percent will be equal to 35%
If Mork has more weight (with same ratio) than it'll be 37,5%

It looks a little convoluted but if you look at the picture and remember this approach - it can save a lot of time on average-weighted tasks.

Answer is A
Attachments

2015-04-09 01-29-41 Adobe Photoshop CS5.1 Extended.jpg
2015-04-09 01-29-41 Adobe Photoshop CS5.1 Extended.jpg [ 19.66 KiB | Viewed 2862 times ]

Math Expert
Joined: 02 Sep 2009
Posts: 92904
Own Kudos [?]: 618875 [0]
Given Kudos: 81588
Send PM
Re: Because he’s taxed by his home planet, Mork pays a tax rate of 40% on [#permalink]
Expert Reply
Bunuel wrote:
Because he’s taxed by his home planet, Mork pays a tax rate of 40% on his income, while Mindy pays a rate of only 30% on hers. If Mindy earned 3 times as much as Mork did, what was their combined tax rate?

(A) 32.5%
(B) 34%
(C) 35%
(D) 36%
(E) 37.5%

Kudos for a correct solution.


VERITAS PREP OFFICIAL SOLUTION:

If your mind immediately thought “the average of 30% and 40% is 35% – C!” you’re not alone…but you may be falling for the old Mrs. Doubtfire routine, mistaking a more-difficult question for one that’s sweet, nurturing, and easy. Because Mork & Mindy don’t earn the same amount, their average must be weighted, meaning that the correct answer is A (since Mindy’s income carries 3/4 of the weight, the weighted average will be 3/4 of the way toward her income). And the lesson – when a GMAT question seems a bit too easy, don’t merely assume that it’s easy and that you’re doing poorly. Think about Mrs. Doubtfire playing soccer in the park and Aerosmith singing “Dude Looks Like Lady” (or “Hard Looks Like It’s Easy”…same rhythm) and see if you’re falling for a hard problem disguised as an easy one.

Robin Williams will be remembered for the many ways he inspired us and the many lessons he taught us. While, sadly, you won’t be able to have a conversation with him on a park bench in Boston Common, remembering his Mrs. Doubtfire character on the GMAT will help you on your quest to find similarly-inspiring professors of your own.

Thank you, O’ Captain.
Director
Director
Joined: 12 Nov 2016
Posts: 569
Own Kudos [?]: 118 [0]
Given Kudos: 167
Location: United States
Schools: Yale '18
GMAT 1: 650 Q43 V37
GRE 1: Q157 V158
GPA: 2.66
Send PM
Re: Because he’s taxed by his home planet, Mork pays a tax rate of 40% on [#permalink]
Bunuel wrote:
Because he’s taxed by his home planet, Mork pays a tax rate of 40% on his income, while Mindy pays a rate of only 30% on hers. If Mindy earned 3 times as much as Mork did, what was their combined tax rate?

(A) 32.5%
(B) 34%
(C) 35%
(D) 36%
(E) 37.5%

Kudos for a correct solution.


We can solve this question using algebra - btw although this is minor detail, the fact that Mork and Mindy have letters that begin with the same name can be confusing- but with proper algebra we can reduce this confusion.

X(.6) - instead of using x-x(.4) which would represent a 40% decrease we can just take the opposite of 40% and multiply by the given value - Mork's income- to calculate a 40% decrease x(.6)= x- x(.4)

Y(.7) Same rule here

Yet- Mindy's income is 3 times Mork's income so we can make set up x as a constant

x(.6)
3x(.4)

$100(.6) = $60.00
$300(.7) = $210.00

1 - $270/$400 =
130/400 =
32.5%
Target Test Prep Representative
Joined: 14 Oct 2015
Status:Founder & CEO
Affiliations: Target Test Prep
Posts: 18756
Own Kudos [?]: 22050 [0]
Given Kudos: 283
Location: United States (CA)
Send PM
Re: Because he’s taxed by his home planet, Mork pays a tax rate of 40% on [#permalink]
Expert Reply
Bunuel wrote:
Because he’s taxed by his home planet, Mork pays a tax rate of 40% on his income, while Mindy pays a rate of only 30% on hers. If Mindy earned 3 times as much as Mork did, what was their combined tax rate?

(A) 32.5%
(B) 34%
(C) 35%
(D) 36%
(E) 37.5%

Kudos for a correct solution.


We can create the following equation:

(0.4 x n + 0.3 x 3n)/4n = (0.4n + 0.9n)/4n = 1.3n/4n = 0.325 = 32.5%

Alternate Solution:

Let’s assume that Mork earns $100, and thus Mindy earns $300.

Mork pays 100 x 0.4 = $40 in taxes.

Mindy pays 300 x 0.3 = $90 in taxes.

Thus their combined tax rate is (40 + 90)/(100 + 300) = 130/400 = 0.325 = 32.5%.

Answer: A
GMAT Club Bot
Re: Because he’s taxed by his home planet, Mork pays a tax rate of 40% on [#permalink]
Moderators:
Math Expert
92901 posts
Senior Moderator - Masters Forum
3137 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne