December 10, 2018 December 10, 2018 10:00 PM PST 11:00 PM PST Practice the one most important Quant section  Integer properties, and rapidly improve your skills. December 11, 2018 December 11, 2018 09:00 PM EST 10:00 PM EST Strategies and techniques for approaching featured GMAT topics. December 11 at 9 PM EST.
Author 
Message 
TAGS:

Hide Tags

Retired Moderator
Joined: 18 Jul 2008
Posts: 859

Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
14 Nov 2008, 14:41
Question Stats:
72% (02:21) correct 28% (03:06) wrong based on 334 sessions
HideShow timer Statistics
Mike, Tom, and Walt are working as sales agents for an insurance company. Previous month relationship between their commissions was \(\frac{MT}{6}=W\), where \(M\), \(T\), and \(W\) are the commissions received by Mike, Tom, and Walt respectively. If this month, Mike's commission is 60% more than previous month and Tom's commission is 50% less than previous month, then how much should Walt's commission change compared to the previous month to ensure that the relationship between their commissions remains the same? A. Decrease by 12.5% B. Decrease by 20% C. Decrease by 22.5% D. Increase by 12.5% E. Increase by 15% M0636
Official Answer and Stats are available only to registered users. Register/ Login.




Math Expert
Joined: 02 Sep 2009
Posts: 51067

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
08 Dec 2014, 03:05
bigfernhead wrote: Mike, Tom, and Walt are working as sales agents for an insurance company. Previous month relationship between their commissions was \(\frac{MT}{6}=W\), where \(M\), \(T\), and \(W\) are the commissions received by Mike, Tom, and Walt respectively. If this month, Mike's commission is 60% more than previous month and Tom's commission is 50% less than previous month, then how much should Walt's commission change compared to the previous month to ensure that the relationship between their commissions remains the same?
A. Decrease by 12.5% B. Decrease by 20% C. Decrease by 22.5% D. Increase by 12.5% E. Increase by 15%
M0636 Previous month \(\frac{MT}{6}=W\); This month \(1.6M*0.5T=0.8MT\). So, \(MT\) is decreased by 20% so \(W\) should also decrease by the same percent for the relationship to remain the same. Answer: B.
_________________
New to the Math Forum? Please read this: Ultimate GMAT Quantitative Megathread  All You Need for Quant  PLEASE READ AND FOLLOW: 12 Rules for Posting!!! Resources: GMAT Math Book  Triangles  Polygons  Coordinate Geometry  Factorials  Circles  Number Theory  Remainders; 8. Overlapping Sets  PDF of Math Book; 10. Remainders  GMAT Prep Software Analysis  SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS)  Tricky questions from previous years.
Collection of Questions: PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.
What are GMAT Club Tests? Extrahard Quant Tests with Brilliant Analytics




Manager
Joined: 23 Jul 2008
Posts: 168

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
14 Nov 2008, 14:44
1.6M X 0.5 T = 0.8MT=0.8 W/6 ==> hence W shud decrease sales by 20% so that the relation remains intact



Senior Manager
Status: Do and Die!!
Joined: 15 Sep 2010
Posts: 268

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
26 Sep 2011, 04:05
Mike, Tom, and Walt are working as sales agents for an insurance company, and the commissions they receive can be expressed by the following formula: MT=W/6 . If Mike sells 60% more this month and Tom decreases his sales by 50%, how should Walt's performance change to ensure that the above relationship is true ?
_________________
I'm the Dumbest of All !!



Manager
Joined: 12 May 2011
Posts: 93
Location: United States
Concentration: Finance, Marketing

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
27 Sep 2011, 07:42
I believe this is the same question that has already been answered. But here's my take:
MT = W/6 => 6MT = W (1)
1.6M * 0.5T = Wx/6 0.8MT = Wx/6 4.8MT = Wx (2)
Comparing (1) and (2):
(1) 6MT = W (2) 4.8MT = Wx
Since 4.8 is 4/5 of 6, x would need to be 4/5 for the equation to hold. Therefore, W needs to decrease by 20%, or answer choice B, for the equation to remain intact.



Intern
Joined: 27 Jan 2011
Posts: 4

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
27 Sep 2011, 11:32
Please tell me the official answer



Intern
Joined: 10 Mar 2013
Posts: 11

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
07 Dec 2014, 19:08
It is given that: MT = W/6....eq(1)
Now, M 's sales increased by 60 percent, whereas that of T decreased by 50 %.
Thus, Mnew= 1.6M, and Tnew = 0.5T. So, now lets assume that we increase or decrease W by X%. As the equation is still valid, we can represent it as:
1.6M * 0.5T = [ W (1 + X/100) ] / 6 ....where X is the percent increase or decrease
We can further simplify this as, 0.8MT = [W (1 + X/100) ] / 6 ] From eq 1, however, W = 6MT So, 0.8MT = [W (1 + X/100) ] / 6 ] => 0.8MT = [6MT (1+ X/100)] / 6 Further simplifying,
0.8MT/6MT * 6 = (1 + X/100) => (1 + X/100) = 0.8 => X/100 = 0.2 => X = 20 => Answer Choice B
Thus, we need to reduce W by 20% in order to maintain the equation. I have listed all the steps to clarify, otherwise the problem could be solved much faster.



Intern
Joined: 13 Dec 2013
Posts: 42
GPA: 2.71

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
11 Dec 2014, 02:26
Bunuel wrote: bigfernhead wrote: Mike, Tom, and Walt are working as sales agents for an insurance company. Previous month relationship between their commissions was \(\frac{MT}{6}=W\), where \(M\), \(T\), and \(W\) are the commissions received by Mike, Tom, and Walt respectively. If this month, Mike's commission is 60% more than previous month and Tom's commission is 50% less than previous month, then how much should Walt's commission change compared to the previous month to ensure that the relationship between their commissions remains the same?
A. Decrease by 12.5% B. Decrease by 20% C. Decrease by 22.5% D. Increase by 12.5% E. Increase by 15%
M0636 Previous month \(\frac{MT}{6}=W\); This month \(1.6M*0.5T=0.8MT\). So, \(MT\) is decreased by 20% so \(W\) should also decrease by the same percent for the relationship to remain the same. Answer: B. Lost shouldnt any change in MT be 6 times that of W? \(MT/6=W\) \(0.8MT=6W\)



SVP
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1826
Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
11 Dec 2014, 23:45
Simplifying the condition: mt = 6w 6 is a constant; for the sake of the required calculation, it can be ignored. mt = w ............... (1) 60% increase in m, 50% decrease in t \(\frac{160}{100} m * \frac{50}{100} t = w\) \(mt = \frac{100}{80} w\) .................. (2) By comparing (1) & (2), increase in\(w = \frac{100}{80}  1 = \frac{20}{80}\) Required decrease = 20% Answer = B
_________________
Kindly press "+1 Kudos" to appreciate



NonHuman User
Joined: 09 Sep 2013
Posts: 9090

Re: Mike, Tom, and Walt are working as sales agents for an insurance compa
[#permalink]
Show Tags
08 Aug 2018, 08:43
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 Books  GMAT Club Tests  Best Prices on GMAT Courses  GMAT Mobile App  Math Resources  Verbal Resources




Re: Mike, Tom, and Walt are working as sales agents for an insurance compa &nbs
[#permalink]
08 Aug 2018, 08:43






