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Each person who attended a company meeting was either a stockholder in
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14 Sep 2015, 08:36
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A
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C
D
E
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5% (low)
Question Stats:
84% (01:47) correct 16% (02:26) wrong based on 1362 sessions
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Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 47 percent were employees, what percent were stockholders who were not employees?
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20 Oct 2015, 05:11
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Bunuel wrote:
Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 47 percent were employees, what percent were stockholders who were not employees?
(A) 34% (B) 38% (C) 45% (D) 53% (E) 62%
Kudos for a correct solution.
Answer: Option D
Check the steps below
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14 Sep 2015, 09:48
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ske wrote:
Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 47 percent were employees, what percent were stockholders who were not employees?
(A) 34% (B) 38% (C) 45% (D) 53% (E) 62%
Let M represent the number of meeting attendees. Then, since 62% of M or 0.62M were stockholders and 47% of M or 0.47M were employees, it follows that 0.62M + 0.47M = 1.09M were either stockholders, employees, or both. Since 1.09M exceeds M, the excess 1.09M − M = 0.09M must be the number of attendees who were both stockholders and employees, leaving the rest 0.62M − 0.09M = 0.53M, or 53%, of the meeting attendees to be stockholders but not employees.
The correct answer is D.
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20 Oct 2015, 09:50
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Bunuel wrote:
Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 47 percent were employees, what percent were stockholders who were not employees?
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10 Mar 2017, 22:05
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suppose stockholder in the company = s employee in the company = e both = b as per question => s + b = 62 => e + b = 47 then stockholder in the company + employee in the company - both = 100% (s+b) + (e+b) -b = 100 => b =9 now stockholders who were not employees => (s + b) - b => 62 -9 => 53
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16 Jan 2018, 13:30
Hi All,
This is essentially an Overlapping Sets question that does not have a "neither" group. As such, it can be solved in a couple of different ways. Here's how you can use standard Overlapping Sets formula to get to the correct answer:
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07 Sep 2018, 14:47
Top Contributor
Bunuel wrote:
Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 47 percent were employees, what percent were stockholders who were not employees?
(A) 34% (B) 38% (C) 45% (D) 53% (E) 62%
Kudos for a correct solution.
Let's use the Double Matrix Method. This technique can be used for most questions featuring a population in which each member has two characteristics associated with it (aka overlapping sets questions).
Here, we have a population of attendees, and the two characteristics are: - stockholder or not a stockholder - employee or not an employee
Since we're not told the total number of attendees, and since we're trying to find a PERCENTAGE, let's assign a nice value to the total number of attendees Let's say there are 100 attendees
Finally, since we're looking for the percentage of attendees who were stockholders but NOT employees, let's place a red star in that box to remind us of what we're trying to determine.
62 percent of those who attended the meeting were stockholders This also means that the other 38 percent are NOT stockholders
47 percent were employees This also means that the other 53 percent are NOT employees
At this point, we appear to have no more information to add to our diagram. However, we also know that each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both This means that there were ZERO people who were neither a stockholder nor an employee. So, we can add this to our diagram.
Since the two boxes in the right-hand column must add to 53, we know that the top right box must have 53 people in it...
What percent were stockholders who were not employees? Out of 100 attendees, 53 people were stockholders but not employees In other words, 53% of the people were stockholders but not employees
Answer: D
This question type is VERY COMMON on the GMAT, so be sure to master the technique.
To learn more about the Double Matrix Method, watch this video:
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26 Dec 2018, 08:23
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I feel the answer can be arrived really quick. Given the earlier condition, % employee are 47% so % not employees (means stockholders) = 53% (100-47) which is the answer. Correct me if I'm wrong with my approach.
gmatclubot
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26 Dec 2018, 08:23