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Karl's net income is always 80 percent of his gross income. What will

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Karl's net income is always 80 percent of his gross income. What will  [#permalink]

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New post 22 Nov 2019, 03:29
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A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

97% (01:05) correct 3% (01:30) wrong based on 31 sessions

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Re: Karl's net income is always 80 percent of his gross income. What will  [#permalink]

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New post 22 Nov 2019, 07:41
Top Contributor
Bunuel wrote:
Karl's net income is always 80 percent of his gross income. What will be the increase in Karl's net income when his gross income increases from $20,000 to $25,000?

(A) $5,000

(B) $4,000

(C) $3,000

(D) $2,000

(E) $1,000


Net income from gross income of $20,000 = 80% of $20,000 = (0.8)(20,000)
Net income from gross income of $25,000 = 80% of $25,000 = (0.8)(25,000)

So, the INCREASE in net income = (0.8)(25,000) - (0.8)(20,000)
= (0.8)(25,000 - 20,000)
= (0.8)(5,000)
= $4,000

Answer: B

Cheers,
Brent
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Re: Karl's net income is always 80 percent of his gross income. What will   [#permalink] 22 Nov 2019, 07:41
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