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In May, Mrs. Lee's earnings were 60 percent of the Lee

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Intern
Joined: 11 Jul 2007
Posts: 24
In May, Mrs. Lee's earnings were 60 percent of the Lee [#permalink]

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03 Dec 2007, 14:57
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

In May, Mrs. Lee's earnings were 60 percent of the Lee family's total income. In June Mrs. Lee earned 20 percent more than in May. If the rest of the family's income was the same both months, then, in June, Mrs. Lee's earnings were approximately what percent of the Lee family's total income?

64%
68%
72%
76%
80%

any ideas guys? thks.
SVP
Joined: 29 Aug 2007
Posts: 2473

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03 Dec 2007, 15:35
In May, Mrs. Lee's earnings were 60 percent of the Lee family's total income. In June Mrs. Lee earned 20 percent more than in May. If the rest of the family's income was the same both months, then, in June, Mrs. Lee's earnings were approximately what percent of the Lee family's total income?

64%
68%
72%
76%
80%

any ideas guys? thks.

= (0.6x1.2) / (0.6x1.2 + 0.4)
= 64%
CEO
Joined: 29 Mar 2007
Posts: 2559

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03 Dec 2007, 23:35
In May, Mrs. Lee's earnings were 60 percent of the Lee family's total income. In June Mrs. Lee earned 20 percent more than in May. If the rest of the family's income was the same both months, then, in June, Mrs. Lee's earnings were approximately what percent of the Lee family's total income?

64%
68%
72%
76%
80%

any ideas guys? thks.

May = M. So we have .4M and .6M

.6M*1.2= June for Mrs Lee. 6/10*12/10 --> 72/100 --> .72M is for June for mrs lee.

.72M/.72M+.4M ---> .72M/1.12M 72/112 --> .64

So 64%.
Director
Joined: 26 Jul 2007
Posts: 535
Schools: Stern, McCombs, Marshall, Wharton

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04 Dec 2007, 09:30
I'm getting 64%

I just plugged numbers for this one.

If the family income in May is 100 then Mrs. Lee makes 60.

If she makes 20 percent more in june she would make 72 (60*1.2)

The family still makes 40. So the whole family makes 112

So she makes 72 and the family makes 112. 64%.
Intern
Joined: 11 Jul 2007
Posts: 24

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04 Dec 2007, 10:46
Hey guys, I understand everything up to the part where u add .40 to the denominator. I just can't think of it logically. If I added .40 to .72, wouldn't I be .12 over the family's total income since the May income is different from May's income?
Manager
Joined: 11 Aug 2007
Posts: 64

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04 Dec 2007, 11:07
Hey guys, I understand everything up to the part where u add .40 to the denominator. I just can't think of it logically. If I added .40 to .72, wouldn't I be .12 over the family's total income since the May income is different from May's income?

think this way:
May: Mrs. Lee earned $60 and others earned$40 (total $100) June: Mrs. Lee earned$72 (+20%) and others earned the same $40 (so, the total is$72+$40=$112).

So, Mrs. Lee's earnings is approximately 72/112=64% of the Lee family's total income in June
04 Dec 2007, 11:07
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