GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 25 Mar 2019, 11:13

### 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

# In 2001, Joe paid 5.1 percent of his income in taxes. In 2002, did Joe

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

### Hide Tags

Math Expert
Joined: 02 Sep 2009
Posts: 53831
In 2001, Joe paid 5.1 percent of his income in taxes. In 2002, did Joe  [#permalink]

### Show Tags

16 Oct 2018, 01:48
00:00

Difficulty:

55% (hard)

Question Stats:

55% (01:26) correct 45% (01:22) wrong based on 61 sessions

### HideShow timer Statistics

In 2001, Joe paid 5.1 percent of his income in taxes. In 2002, did Joe pay less than 5.1 percent of his income in taxes?

(1) From 2001 to 2002, Joe’s income increased by 10 percent.
(2) Taxes paid in 2002 are 3.4 percent of Joe’s income in 2001.

_________________
Manager
Joined: 19 Apr 2017
Posts: 57
In 2001, Joe paid 5.1 percent of his income in taxes. In 2002, did Joe  [#permalink]

### Show Tags

23 Oct 2018, 02:23
1
In 2001, Joe paid 5.1% of his income in taxes. In 2002, did Joe pay less than 5.1% of his income in taxes?

30 sec Approach :-> IS $$\frac{2002 Tax Amount}{2002 Income}*100>5.1%$$

You need tax amount of 2002 , income of 2002 to calculate the result. Look for them and your done.

2 min Approach: The whole 9 yards!
1) From 2001 to 2002, Joe’s income increased by 10 percent.
Since it all in percent Assume his income in 2001 = 100
Total Income in 2002 = $$100+10%*100=110$$
Tax amount paid is not known. No sufficient

2) Taxes paid in 2002 are 3.4% of Joe’s income in 2001.
Tax paid in 2002 = 3.4%*income in 2001
Income in 2002 is not known.No sufficient

From 1 and 2
His income in 2001 = 100
Total Income in 2002 = $$100+10%*100=110$$
Tax paid in 2002 = 3.4%*income in 2001=3.4%*110=3.74

$$\frac{Tax Amount}{Total Income}*100 = \frac{3.74}{110}*100 = 3.4%$$ is what he paid. that is less than 5.1% so Sufficient C
In 2001, Joe paid 5.1 percent of his income in taxes. In 2002, did Joe   [#permalink] 23 Oct 2018, 02:23
Display posts from previous: Sort by

# In 2001, Joe paid 5.1 percent of his income in taxes. In 2002, did Joe

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

 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®.