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Jay’s net income equals his salary minus taxes. By what percent did Ja

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Jay’s net income equals his salary minus taxes. By what percent did Ja  [#permalink]

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New post 11 Oct 2018, 04:14
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

73% (01:09) correct 27% (01:11) wrong based on 49 sessions

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Re: Jay’s net income equals his salary minus taxes. By what percent did Ja  [#permalink]

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New post 11 Oct 2018, 04:44
Bunuel wrote:
Jay’s net income equals his salary minus taxes. By what percent did Jay’s net income change on April 1, 2010?

(1) Jay’s salary increased by 5 percent on April 1, 2010.
(2) Jay’s taxes increased by 10 percent on April 1, 2010.


Question: By what percent did Jay’s net income change on April 1, 2010?

Statement 1: Jay’s salary increased by 5 percent on April 1, 2010.
The information on tax is missing hence nothing about Net income can be answered hence
SUFFICIENT

Statement 2: Jay’s taxes increased by 10 percent on April 1, 2010.
Information about Salary increment is missing hence
NOT SUFFICIENT

Combining the two statements

Since we do NOT know the proportion of salary that is tax so different percentages can not be solved together to reach to any conclusion about percentage change in net salary hence
NOT SUFFICIENT

Answer: Option E

P.S. If the percentage change in Salary and Tax were the same numbers (e.g. 5% increase) then the change in Net income also would have been 5% increase
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Re: Jay’s net income equals his salary minus taxes. By what percent did Ja   [#permalink] 11 Oct 2018, 04:44
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