Last visit was: 19 Jul 2024, 17:25 It is currently 19 Jul 2024, 17:25
Close
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
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Close
Request Expert Reply
Confirm Cancel
SORT BY:
Date
Tags:
Difficulty: Sub 505 Level,    Arithmetic,                            
Show Tags
Hide Tags
Math Expert
Joined: 02 Sep 2009
Posts: 94421
Own Kudos [?]: 642364 [9]
Given Kudos: 86332
Send PM
Math Expert
Joined: 02 Sep 2009
Posts: 94421
Own Kudos [?]: 642364 [2]
Given Kudos: 86332
Send PM
avatar
Intern
Intern
Joined: 05 Dec 2013
Posts: 9
Own Kudos [?]: 21 [0]
Given Kudos: 19
Location: United States
GMAT 1: 770 Q51 V42
GPA: 3.53
Send PM
User avatar
Manager
Manager
Joined: 11 Jan 2014
Posts: 78
Own Kudos [?]: 413 [0]
Given Kudos: 11
Concentration: Finance, Statistics
GMAT Date: 03-04-2014
GPA: 3.77
WE:Analyst (Retail Banking)
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
450,000 / 0.03 = 15,000,000. Answer is (D).
User avatar
Manager
Manager
Joined: 10 Oct 2011
Posts: 114
Own Kudos [?]: 108 [1]
Given Kudos: 7
Location: India
Concentration: Technology, Entrepreneurship
GMAT 1: 760 Q50 V42
GPA: 3
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
1
Kudos
Bunuel wrote:
The Official Guide For GMAT® Quantitative Review, 2ND Edition

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues?

(A) $ 1,350,000
(B) $ 1,500,000
(C) $ 4,500,000
(D) $ 15,000,000
(E) $150,000,000



Concept to Note: - A whole part is represented by 1 or 1/1 in fractions and 100% when it comes to percentages.

Keeping the above concept about percentages in mind if 97% of revenues of the company came from domestic sources, the remaining sources of revenue would account for 100%-97% = 3%.

we know that 3% of total revenue is 450,00. We need to find what the total revenue is or what 100 percent is!

Let us assume our Revenue is R. Algebrically -

3% of R = 450,000

3/100 * R = 450,000

R = 450,000 * (100/3) = 150,000 * 100 = 15,000,000 or 15 Million! ;)

This question is very simple and might appear at 500 level. The key in solving such a question would be to solve it fast enough; perferably within a minute or there about so you can save up time for the harder questions that might appear later in the exam. As soon as you see 45 in the numerator and 3 in the denominator, 15 should start running in your mind because 45/3 = 15. Stuff like this helps improve on speed.

If you look at the question and aren't sure how percentages work, your first thing to do is to look up a good source of GMAT content like MGMAT booklets and go through the percentages chapter and evalute your progress on percentages after you've had a thorough read. Rinse, wash...repeat if you still aren't clear on something!
avatar
Intern
Intern
Joined: 20 Jan 2014
Posts: 4
Own Kudos [?]: [0]
Given Kudos: 1
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
15 million.
3% of X = 450,000
Hence, 15,00,000.
Careful with the no. of zeros!
avatar
Intern
Intern
Joined: 13 Feb 2013
Posts: 19
Own Kudos [?]: 32 [1]
Given Kudos: 3
Location: United States
Concentration: Finance, General Management
Schools: Harvard '24
GMAT Date: 07-28-2014
GPA: 3.75
WE:Consulting (Computer Software)
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
1
Kudos
Since 3% of the total revenue is $4,50,000.
1% of total revenue is 4,50,000/3 = 1,50,000
100% of total revenue will be = 1,50,000*100 = 15,000,000

Answer is (D)
User avatar
Manager
Manager
Joined: 21 Mar 2011
Status:GMATting
Posts: 96
Own Kudos [?]: 288 [0]
Given Kudos: 104
Concentration: Strategy, Technology
GMAT 1: 590 Q45 V27
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
Remaining revenues =3%= 450,000
=> (3/100) * TR = 450,000; TR is the Total Revenue
TR = (450,000 * 100)/3
TR = 15,000,000 = 15 million

Ans is (D)
SVP
SVP
Joined: 27 May 2012
Posts: 1697
Own Kudos [?]: 1494 [0]
Given Kudos: 639
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
Bunuel wrote:

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues?

(A) $ 1,350,000
(B) $ 1,500,000
(C) $ 4,500,000
(D) $ 15,000,000
(E) $150,000,000




let total revenues be X
then 3% of X=450000( given )
hence X= 15,000,000
Answer D
User avatar
Intern
Intern
Joined: 27 Dec 2013
Posts: 29
Own Kudos [?]: 27 [0]
Given Kudos: 29
Concentration: Finance, General Management
Schools: ISB '15
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
Bunuel wrote:
The Official Guide For GMAT® Quantitative Review, 2ND Edition

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues?

(A) $ 1,350,000
(B) $ 1,500,000
(C) $ 4,500,000
(D) $ 15,000,000
(E) $150,000,000



The way I do these kind of problems is -

3 is 450, 000. so how much will be 100? ( since total revenue of the company is asked)

3 ----- 450,000
100---- ??

100 * 450,000/3

= 15,000,000
Option D
User avatar
Manager
Manager
Joined: 01 Sep 2013
Status:suffer now and live forever as a champion!!!
Posts: 87
Own Kudos [?]: 315 [0]
Given Kudos: 74
Location: India
Dheeraj: Madaraboina
GPA: 3.5
WE:Information Technology (Computer Software)
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
3% ---------- 4,50,000;
97% --------- ??????

x= 15,000,000;
Manager
Manager
Joined: 12 Jun 2016
Posts: 145
Own Kudos [?]: 232 [1]
Given Kudos: 151
Location: India
Concentration: Technology, Leadership
WE:Sales (Telecommunications)
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
1
Kudos
3% = 450,000
1% = 4500000/3 = 150,000
100% = 15,000,000
D
Board of Directors
Joined: 11 Jun 2011
Status:QA & VA Forum Moderator
Posts: 6049
Own Kudos [?]: 4766 [0]
Given Kudos: 463
Location: India
GPA: 3.5
WE:Business Development (Commercial Banking)
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
Bunuel wrote:
Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues?

(A) $ 1,350,000
(B) $ 1,500,000
(C) $ 4,500,000
(D) $ 15,000,000
(E) $150,000,000


3% represents $450,000
1% represents $150,000
So, 100% represents $15,000,000

Thus, answer will be (D)
Target Test Prep Representative
Joined: 04 Mar 2011
Status:Head GMAT Instructor
Affiliations: Target Test Prep
Posts: 3036
Own Kudos [?]: 6595 [1]
Given Kudos: 1646
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
1
Kudos
Expert Reply
Quote:

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues?

(A) $ 1,350,000
(B) $ 1,500,000
(C) $ 4,500,000
(D) $ 15,000,000
(E) $150,000,000


Since 97% of the revenues of a company came from domestic sources, 3% of the revenues, totaling $450,000, came from foreign sources. If we let t = total revenue, then:

0.03t = 450,000

t = 450,000/0.03

t = 15,000,000

Answer: D
GMAT Club Legend
GMAT Club Legend
Joined: 03 Jun 2019
Posts: 5316
Own Kudos [?]: 4232 [0]
Given Kudos: 161
Location: India
GMAT 1: 690 Q50 V34
WE:Engineering (Transportation)
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
Bunuel wrote:
The Official Guide For GMAT® Quantitative Review, 2ND Edition

Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues?

(A) $ 1,350,000
(B) $ 1,500,000
(C) $ 4,500,000
(D) $ 15,000,000
(E) $150,000,000

Problem Solving
Question: 49
Category: Arithmetic Percents
Page: 68
Difficulty: 600


GMAT Club is introducing a new project: The Official Guide For GMAT® Quantitative Review, 2ND Edition - Quantitative Questions Project

Each week we'll be posting several questions from The Official Guide For GMAT® Quantitative Review, 2ND Edition and then after couple of days we'll provide Official Answer (OA) to them along with a slution.

We'll be glad if you participate in development of this project:
1. Please provide your solutions to the questions;
2. Please vote for the best solutions by pressing Kudos button;
3. Please vote for the questions themselves by pressing Kudos button;
4. Please share your views on difficulty level of the questions, so that we have most precise evaluation.

Thank you!


Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues?

3%x = $450,000
x = 450,000*100/3 = $15,000,000

IMO D
User avatar
Non-Human User
Joined: 09 Sep 2013
Posts: 34033
Own Kudos [?]: 853 [0]
Given Kudos: 0
Send PM
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
GMAT Club Bot
Re: Last year if 97 percent of the revenues of a company came from [#permalink]
Moderator:
Math Expert
94421 posts