It is currently 13 Dec 2017, 09:12

Decision(s) Day!:

CHAT Rooms | Ross R1 | Kellogg R1 | Darden R1 | Tepper R1


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

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Senior Manager
Senior Manager
avatar
Joined: 28 Jun 2007
Posts: 315

Kudos [?]: 55 [0], given: 0

In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in [#permalink]

Show Tags

New post 26 Sep 2007, 12:21
2
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  55% (hard)

Question Stats:

57% (00:53) correct 43% (00:45) wrong based on 117 sessions

HideShow timer Statistics

In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in state taxes. In 1994 what percent of Mr. Jacobs’ taxable income did he pay in state taxes?

(1) In 1993 Mr. Jacobs’s taxable income was $42,500.
(2) In 1994 Mr. Jacobs paid $232 more in state taxes than he did in 1993.
[Reveal] Spoiler: OA

Last edited by Bunuel on 31 Mar 2015, 03:56, edited 1 time in total.
Added the OA.

Kudos [?]: 55 [0], given: 0

CEO
CEO
User avatar
Joined: 29 Mar 2007
Posts: 2553

Kudos [?]: 536 [0], given: 0

Re: In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in [#permalink]

Show Tags

New post 26 Sep 2007, 12:38
gluon wrote:
In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in state taxes. In 1994 what percent of Mr. Jacobs’ taxable income did he pay in state taxes?
(1) In 1993 Mr. Jacobs’s taxable income was $42,500.
(2) In 1994 Mr. Jacobs paid $232 more in state taxes than he did in 1993.



S1: Insuff. Only 1993 yr's income is known

S2:

Let x be the income from 93. So x+232= 94 income.


.048(x+232) = income tax for 94. Since we don't know anything else, S2 is insuff.

S1 and 2 suff.

.048(42500+232) = 2051.136

Kudos [?]: 536 [0], given: 0

2 KUDOS received
GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 07 Jul 2004
Posts: 5032

Kudos [?]: 457 [2], given: 0

Location: Singapore
Re: In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in [#permalink]

Show Tags

New post 26 Sep 2007, 19:30
2
This post received
KUDOS
St1:
Nothing known about 1994. Out.

St2:
assume taxable income in 1993 = x. Then taxes paid in 1993 = 4.8/100 * x = 0.048x
taxes paid in 1994 = 0.048x + 232. But we do not have taxable income in 1994 to claculate %. Out.

St1 and St2:
nothing extra is known about 1994 taxable income.

Ans E

Kudos [?]: 457 [2], given: 0

Intern
Intern
avatar
Joined: 15 Mar 2007
Posts: 45

Kudos [?]: 1 [0], given: 0

Re: In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in [#permalink]

Show Tags

New post 26 Sep 2007, 19:46
gluon wrote:
In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in state taxes. In 1994 what percent of Mr. Jacobs’ taxable income did he pay in state taxes?
(1) In 1993 Mr. Jacobs’s taxable income was $42,500.
(2) In 1994 Mr. Jacobs paid $232 more in state taxes than he did in 1993.


It's E.

S1 and S2 by itself is Insuff cleary.

S1 + S2:

From S1 : 1993 - State Tax = 4.8/100 x 42500 = 2125 ( roughly)

From S2 : 1994 - State Tax = 2125 + 232 = 2357

Cannot determine what % of I = 2357 w/o knowing I.

Kudos [?]: 1 [0], given: 0

Director
Director
User avatar
Joined: 07 Aug 2011
Posts: 578

Kudos [?]: 562 [0], given: 75

Concentration: International Business, Technology
GMAT 1: 630 Q49 V27
GMAT ToolKit User
Re: In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in [#permalink]

Show Tags

New post 31 Mar 2015, 04:32
gluon wrote:
In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in state taxes. In 1994 what percent of Mr. Jacobs’ taxable income did he pay in state taxes?

(1) In 1993 Mr. Jacobs’s taxable income was $42,500.
(2) In 1994 Mr. Jacobs paid $232 more in state taxes than he did in 1993.



A is insufficient as we have no information about 1994 .
B is insufficient as we do not know taxable income in 1993 .

combining together

\(4.8%42500 + 232 = Some%TaxableIncome_1_9_9_4\)

as we do not know the taxable income in 1994 we cannot find answer.

Answer E .
_________________

Thanks,
Lucky

_______________________________________________________
Kindly press the Image to appreciate my post !! :-)

Kudos [?]: 562 [0], given: 75

Non-Human User
User avatar
Joined: 09 Sep 2013
Posts: 14872

Kudos [?]: 287 [0], given: 0

Premium Member
Re: In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in [#permalink]

Show Tags

New post 15 Oct 2017, 06:55
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________

GMAT Books | GMAT Club Tests | Best Prices on GMAT Courses | GMAT Mobile App | Math Resources | Verbal Resources

Kudos [?]: 287 [0], given: 0

Re: In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in   [#permalink] 15 Oct 2017, 06:55
Display posts from previous: Sort by

In 1993 Mr. Jacobs paid 4.8 percent of his taxable income in

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

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

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.