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Last year $48,000 of a certain store's profit was shared by its 2 owne
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 22 Jun 2018, 00:06
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82% (01:21) correct 18% (01:47) wrong based on 1259 sessions
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Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ? A. $12,000 B. $9,000 C. $6,000 D. $4,000 E. $3,000 NEW question from GMAT® Official Guide 2019 (PS17812)
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Joined: 31 Oct 2013
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Concentration: Accounting, Finance
GPA: 3.68
WE: Analyst (Accounting)
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Last year $48,000 of a certain store's profit was shared by its 2 owne
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22 Jun 2018, 01:49
Bunuel wrote: Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ? A. $12,000 B. $9,000 C. $6,000 D. $4,000 E. $3,000 NEW question from GMAT® Official Guide 2019 (PS17812) let the amount received by each employee be x. So, 10 employees got = 10x each owner got = 3x we can form an equation , 3x+3x + 10x = 48000 16x = 48000 x = 3000 we are asked to find out the amount of each owner . 3x =3*3000 =9000 Thus , B is the best option.
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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22 Jun 2018, 02:31
Bunuel wrote: Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ? A. $12,000 B. $9,000 C. $6,000 D. $4,000 E. $3,000 NEW question from GMAT® Official Guide 2019 (PS17812) Two ways.. 1) weighted average.. Owners : employees= 2*3:10.. So owners get \(48000*\frac{6}{6+10}=18000\) So each owner gets half of it =18000/2=9000 2) let each employee get X, so owner gets 3x.. Total = 2*3x+10*X=48000.......16x=48000......X=3000 So each owner gets =3000*3=9000 B
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Last year $48,000 of a certain store's profit was shared by its 2 owne
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22 Jun 2018, 03:55
Bunuel wrote: Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ?
A. $12,000
B. $9,000
C. $6,000
D. $4,000
E. $3,000 We can PLUG IN THE ANSWERS, which represent the share for each owner. Since the share for each owner is 3 times the share for each employee, the correct answer is almost certainly a multiple of 3 (A, B, C or E). When the correct answer is plugged in, the total profit = 48,000. B: $9000 for each of the 2 owners, implying $3000 for each of the 10 employees Total profit = (2*9000) + (10*3000) = 18000 + 30000 = 48,000. Success!
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GMAT Club Legend
Joined: 11 Sep 2015
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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23 Jun 2018, 08:18
Bunuel wrote: Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ?
A. $12,000
B. $9,000
C. $6,000
D. $4,000
E. $3,000
Each owner received 3 times as much as each employeeLet E = the amount (in dollars) that ONE employee received So, 3E = the amount (in dollars) that ONE owner received Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. In other words: 3E + 3E + E + E + E + E + E + E + E + E + E + E = 48,000 Simplify: 16E = 48,000 So, E = 48,000/16 = 3,000 So, each EMPLOYEE received $3000, which means each OWNER received $9000 Answer: B Cheers, Brent
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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23 Jun 2018, 08:25
Bunuel wrote: Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ?
A. $12,000
B. $9,000
C. $6,000
D. $4,000
E. $3,000
Although I believe it's best to use one variable to solve this question, we can also use two variablesLet's see how that solution would look. Let x = the amount (in dollars) that ONE employee received
Let y = the amount (in dollars) that ONE owner receivedEach owner received 3 times as much as each employeeSo, we can write: y = 3xLast year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. So, the total amount two owners received = y + y = 2y The total amount 10 employees received = 10x So, we can write: 10x + 2y = 48,000At this point, we have the following system of linear equations: y = 3x10x + 2y = 48,000 When we solve this system (I'll leave it to you to do this), we get x = 3000 and y = 9000 So, each each OWNER received $9000 Answer: B Cheers, Brent
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Target Test Prep Representative
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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25 Jun 2018, 11:08
Bunuel wrote: Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ?
A. $12,000
B. $9,000
C. $6,000
D. $4,000
E. $3,000 We can let the employee share = n and thus the owner share = 3n, and we have: 48,000 = 2(3n) + 10n 48,000 = 16n 3,000 = n So each owner received 3 x 3,000 = 9,000 dollars. Answer: B
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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14 Nov 2018, 11:35
Hello everyone. Just want a quick opinion. Is plugging the answers, and comparing to the share for each owner, and then checking 3 times the amount received a sane way of approaching this question?
Thanks !
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Intern
Joined: 18 Oct 2017
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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01 May 2019, 09:31
Since total amount is $48000, and considering 2owners and 10 employees so total makes 12. So each gets $48000/12 = $3000. Now since the 2 owners gets trice so each will get 3*3000 = $9000
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Manager
Joined: 25 Sep 2018
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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08 May 2019, 04:08
Bunuel wrote: Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ? A. $12,000 B. $9,000 C. $6,000 D. $4,000 E. $3,000 NEW question from GMAT® Official Guide 2019 (PS17812) Let, Each Employee get x Each owner will get 3x Now, 3x+3x+10x=48000 =>16x=48000 =>x=3000 So, each owner will get 3*3000 =9000 Answer: B Posted from my mobile device
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Manager
Joined: 24 Sep 2018
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Concentration: Entrepreneurship, Marketing
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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16 Jan 2020, 22:04
2 owner and 10 employees so total 12
let all get x amount initially
But owner get 3 times more then employees
So if emp. = x owner =3 x
Total will be divide on x* 10(emp.) + x*3 (1 owner)+ x*3 (2owner) =16 x
So 16x = 48000
x = 3000
So owner will get 3*x = 9000
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IIMA, IIMC School Moderator
Status: So far only Dreams i have!!
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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27 Jan 2020, 11:29
Approach:- Total people: 10+2 - Employee received: x - Owner received(3 times of an employee): 3x Total: 10(x)+2(3x) = 48000 => x = 3000 Each Owner received: 3x or 3*3000 = $9000 Option B
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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22 Jun 2020, 06:11
Bunuel wrote: Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ? A. $12,000 B. $9,000 C. $6,000 D. $4,000 E. $3,000 NEW question from GMAT® Official Guide 2019 (PS17812) Profit= $48,000 Employee= x Owner= y x=3y 2(3y)+10y =48,000 16y=48,000 y= 3,000 x=3(3,000) x=9,000
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Re: Last year $48,000 of a certain store's profit was shared by its 2 owne
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22 Jun 2020, 06:11
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