Author 
Message 
TAGS:

Hide Tags

Intern
Joined: 06 Oct 2012
Posts: 7

Charlene's annual bonus is calculated in the following manner:
[#permalink]
Show Tags
28 Jan 2016, 11:18
Question Stats:
90% (02:03) correct 10% (02:32) wrong based on 51 sessions
HideShow timer Statistics
Charlene's annual bonus is calculated in the following manner: Charlene receives 20 percent of her first $11,000 in sales and 30 percent of her sales in excess of $11,000. If Charlene received a bonus of $7,300, what were her annual sales? A. $ 20,000 B. $ 22,000 C. $ 24,000 D. $ 26,000 E. $ 28,000 Could anyone pls explain the solution for this.
Official Answer and Stats are available only to registered users. Register/ Login.



CEO
Joined: 20 Mar 2014
Posts: 2531
Concentration: Finance, Strategy
GMAT 1: 750 Q49 V44
GPA: 3.7
WE: Engineering (Aerospace and Defense)

Charlene's annual bonus is calculated in the following manner:
[#permalink]
Show Tags
28 Jan 2016, 11:49
dheerajkaushik90 wrote: Charlene's annual bonus is calculated in the following manner: Charlene receives 20 percent of her first $11,000 in sales and 30 percent of her sales in excess of $11,000. If Charlene received a bonus of $7,300, what were her annual sales?
A. $ 20,000
B. $ 22,000
C. $ 24,000
D. $ 26,000
E. $ 28,000
Could anyone pls explain the solution for this. Sure. Look below. Let x be the total sales in $. For the 1st 11,000 you get 20% > 0.2*11000 = 2200$ For the remaining (x11000) $, you get 30% > 0.3*(x11000) Thus, 0.3*(x11000) + 2200 = 7300 > x= 28,000 $ E is thus the correct answer. Hope this helps.
_________________



Veritas Prep GMAT Instructor
Joined: 16 Oct 2010
Posts: 10629
Location: Pune, India

Re: Charlene's annual bonus is calculated in the following manner:
[#permalink]
Show Tags
28 Jan 2016, 23:08
dheerajkaushik90 wrote: Charlene's annual bonus is calculated in the following manner: Charlene receives 20 percent of her first $11,000 in sales and 30 percent of her sales in excess of $11,000. If Charlene received a bonus of $7,300, what were her annual sales?
A. $ 20,000
B. $ 22,000
C. $ 24,000
D. $ 26,000
E. $ 28,000
Could anyone pls explain the solution for this. Total Bonus = $7300 "Charlene receives 20 percent of her first $11,000 in sales " : 20% of $11,000 is $2200. "30 percent of her sales in excess of $11,000 " : 7300  2200 = $5100 (30/100) * Excess = 5100 Excess = 17000 SO her total sales were 11000 + 17000 = $28000 Answer (E)
_________________
Karishma Veritas Prep GMAT Instructor
Learn more about how Veritas Prep can help you achieve a great GMAT score by checking out their GMAT Prep Options >



EMPOWERgmat Instructor
Status: GMAT Assassin/CoFounder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 17018
Location: United States (CA)

Re: Charlene's annual bonus is calculated in the following manner:
[#permalink]
Show Tags
31 Jan 2016, 11:12
Hi dheerajkaushik90, This question can be solved by TESTing THE ANSWERS and using a bit of logic to save some time. We're told that Charlene receives a bonus based on 20 percent of her first $11,000 in sales and 30 percent of her sales in excess of $11,000. We're then told that Charlene received a bonus of $7,300. We're asked for her TOTAL SALES. To start, 20% of $11,000 = $2200 and 30% of $11,000 = $3300 $2200 + $3300 = $5500. Since Charlene received a bonus of $7300, we know that her TOTAL SALES were far MORE than $22,000. Let's TEST Answer D: $26,000 20% of the first $11,000 = $2200 30% of the next $15,000 = $4500 $2200 + $4500 = $6700, but this is TOO LOW (her bonus was $7300). This means that her Total Sales were GREATER. There's only one answer that fits... Final Answer: GMAT assassins aren't born, they're made, Rich
_________________
Contact Rich at: Rich.C@empowergmat.comThe Course Used By GMAT Club Moderators To Earn 750+ souvik101990 Score: 760 Q50 V42 ★★★★★ ENGRTOMBA2018 Score: 750 Q49 V44 ★★★★★



Board of Directors
Status: QA & VA Forum Moderator
Joined: 11 Jun 2011
Posts: 5010
Location: India
GPA: 3.5
WE: Business Development (Commercial Banking)

Re: Charlene's annual bonus is calculated in the following manner:
[#permalink]
Show Tags
16 May 2020, 07:30
dheerajkaushik90 wrote: Charlene's annual bonus is calculated in the following manner: Charlene receives 20 percent of her first $11,000 in sales and 30 percent of her sales in excess of $11,000. If Charlene received a bonus of $7,300, what were her annual sales?
A. $ 20,000
B. $ 22,000
C. $ 24,000
D. $ 26,000
E. $ 28,000
Could anyone pls explain the solution for this. 7300 = 20% of 11,000 + 30% of sales in excess of $11,000. Or, 7300 = 2200 + 30% of sales in excess of $11,000. Or, 30% of sales in excess of $11,000 is 5100 Thus, 1% of sales in excess of $11,000 is 5100/30 And, 100% of sales in excess of $11,000 is 5100/30*100 = 17000 Hence, Annual sales is 11000 + 17000 = 28000, Answer must be (E)
_________________




Re: Charlene's annual bonus is calculated in the following manner:
[#permalink]
16 May 2020, 07:30




