GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 22 Oct 2019, 05:15

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

The table shows the amount budgeted and the amount spent for each of

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Find Similar Topics 
Director
Director
User avatar
B
Status: I don't stop when I'm Tired,I stop when I'm done
Joined: 11 May 2014
Posts: 524
Location: Bangladesh
Concentration: Finance, Leadership
GPA: 2.81
WE: Business Development (Real Estate)
The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post Updated on: 16 Jun 2017, 09:45
2
Top Contributor
26
00:00
A
B
C
D
E

Difficulty:

  65% (hard)

Question Stats:

64% (01:55) correct 36% (01:55) wrong based on 1523 sessions

HideShow timer Statistics

Image

The table shows the amount budgeted and the amount spent for each of three accounts in a certain company.For which of these accounts did the amount spent differ from the amount budgeted by more than 6 percent of the amount budgeted ?


A. Payroll only
B. Taxes only
C. Insurance only
D. Payroll and Insurance
E. Taxes and Insurance


Attachment:
9qwc4m.jpg
9qwc4m.jpg [ 8.74 KiB | Viewed 16585 times ]

_________________
Md. Abdur Rakib

Please Press +1 Kudos,If it helps
Sentence Correction-Collection of Ron Purewal's "elliptical construction/analogies" for SC Challenges

Originally posted by AbdurRakib on 16 Jun 2017, 09:40.
Last edited by Bunuel on 16 Jun 2017, 09:45, edited 1 time in total.
Renamed the topic and edited the question.
Most Helpful Expert Reply
Target Test Prep Representative
User avatar
D
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 8125
Location: United States (CA)
Re: The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 15 Nov 2017, 17:13
10
AbdurRakib wrote:
Image

The table shows the amount budgeted and the amount spent for each of three accounts in a certain company.For which of these accounts did the amount spent differ from the amount budgeted by more than 6 percent of the amount budgeted ?


A. Payroll only
B. Taxes only
C. Insurance only
D. Payroll and Insurance
E. Taxes and Insurance


Attachment:
9qwc4m.jpg


Let’s take 6% of each value budgeted:

Payroll:

110,000 x 0.06 = 6600

Since 117000 - 110,000 = 7,000, the amount spent differed by more than 6% of the amount budgeted.

Taxes:

40,000 x 0.06 = 2,400

Since 42,000 - 40,000 = 2,000, the amount spent DID NOT differ by more than 6% of the amount budgeted.

Insurance:

2,500 x 0.06 = 150

Since 2,500 - 2,340 = 160, the amount spent differed by more than 6% of the amount budgeted.

Answer: D
_________________

Scott Woodbury-Stewart

Founder and CEO

Scott@TargetTestPrep.com
TTP - Target Test Prep Logo
122 Reviews

5-star rated online GMAT quant
self study course

See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews

If you find one of my posts helpful, please take a moment to click on the "Kudos" button.

Most Helpful Community Reply
Senior PS Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3333
Location: India
GPA: 3.12
The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 16 Jun 2017, 10:48
7
3
In order to solve this problem,
Step 1: We need to calculate 6% of the amount budgeted for the various accounts.
Payroll - 6600
Taxes - 2400
Insurance - 150

Step 2: The range of the various departments are
Payroll - 103400 to 116000
Taxes - 37600 to 42400
Insurance - 2350 to 2650

From the values given in the question stem for the amount spent,
Payroll and Insurance have values outside the range. Hence Option D is our answer.
_________________
You've got what it takes, but it will take everything you've got
General Discussion
Director
Director
User avatar
D
Affiliations: IIT Dhanbad
Joined: 13 Mar 2017
Posts: 728
Location: India
Concentration: General Management, Entrepreneurship
GPA: 3.8
WE: Engineering (Energy and Utilities)
Re: The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 16 Jun 2017, 09:49
4
2
AbdurRakib wrote:
Image

The table shows the amount budgeted and the amount spent for each of three accounts in a certain company.For which of these accounts did the amount spent differ from the amount budgeted by more than 6 percent of the amount budgeted ?


A. Payroll only
B. Taxes only
C. Insurance only
D. Payroll and Insurance
E. Taxes and Insurance


Attachment:
9qwc4m.jpg


1. Payroll difference = 7000/110000 *100 = 70/11 > 6%
2. Taxes difference = 2000/40000 * 100 = 5%
3. Insurance difference = 160/2500*100 =32/5 > 6%

Answer D

_________________
CAT 2017 (98.95) & 2018 (98.91) : 99th percentiler
UPSC Aspirants : Get my app UPSC Important News Reader from Play store.

MBA Social Network : WebMaggu


Appreciate by Clicking +1 Kudos ( Lets be more generous friends.)



What I believe is : "Nothing is Impossible, Even Impossible says I'm Possible" : "Stay Hungry, Stay Foolish".
Manager
Manager
User avatar
G
Status: Active
Affiliations: NA
Joined: 24 Oct 2012
Posts: 237
GMAT 1: 590 Q50 V21
GMAT 2: 600 Q48 V25
GMAT 3: 730 Q51 V37
GPA: 3.5
Re: The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 11 Jul 2017, 21:08
pushpitkc wrote:
In order to solve this problem,
Step 1: We need to calculate 6% of the amount budgeted for the various accounts.
Payroll - 6600
Taxes - 2000
Insurance - 150

Step 2: The range of the various departments are
Payroll - 103400 to 116000
Taxes - 38000 to 42000
Insurance - 2350 to 2650

From the values given in the question stem for amount spent,
Payroll and Insurance have values outside the range. Hence Option D is our answer.


Hi,
6% of 40,000 is 2400 not 2000 , please correct .
_________________
#If you like my post , please encourage me by giving Kudos :)
VP
VP
User avatar
D
Joined: 09 Mar 2016
Posts: 1230
Re: The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 15 Nov 2017, 03:16
shashankism wrote:
AbdurRakib wrote:
Image

The table shows the amount budgeted and the amount spent for each of three accounts in a certain company.For which of these accounts did the amount spent differ from the amount budgeted by more than 6 percent of the amount budgeted ?


A. Payroll only
B. Taxes only
C. Insurance only
D. Payroll and Insurance
E. Taxes and Insurance


Attachment:
9qwc4m.jpg


1. Payroll difference = 7000/110000 *100 = 70/11 > 6%
2. Taxes difference = 2000/40000 * 100 = 5%
3. Insurance difference = 160/2500*100 =32/5 > 6%

Answer D


Isn`t it time consuming to calculate all this ? :? is there a shortcut ? :)
EMPOWERgmat Instructor
User avatar
V
Status: GMAT Assassin/Co-Founder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 15309
Location: United States (CA)
GMAT 1: 800 Q51 V49
GRE 1: Q170 V170
Re: The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 20 Nov 2017, 17:36
1
2
Hi All,

We're given a table of information that compares the amount spent to the amount budgeted for 3 different categories. We're asked for the categories in which the amount SPENT differed from the amount budgeted by MORE than 6 percent of the amount budgeted.

It's important to note that the question asks for a DIFFERENCE of more than 6% (which does not necessarily mean "higher" or "lower" - just a difference). This question ultimately comes down to performing a few calculations, but you might find a particular math tactic can save you a bit of time.

Let's start with 'Insurance'; budgeted = $2500, spent = $2340... To calculate 6% of $2500, you might find it easy to calculate 1% first (since that involves simply 'moving' the decimal point 2 spaces to the left... 1% of $2500 = $25. Therefore 6% would equal 6 times that.... (6)($25) = $150.

$2340 is $160 less than $2500 - and since $160 is greater than $150, that difference is clearly greater than 6%.

'Taxes' seems like the next easiest number to deal with: budgeted = $40,000, spent = $42,000...
1% of $40,000 = $400, so 6% = (6)($400) = $2400. The difference between budgeted and spent is only $2,000... so that is LESS than a 6% difference. At this point, the correct answer must be either C or D.

'Payroll'; budgeted = $110,000, spent = $117,000. 1% of $110,000 = $1,100, so 6% = $6,600. The difference between the budgeted and spent is $7,000, so the difference here is also greater than 6%.

Final Answer:

GMAT assassins aren't born, they're made,
Rich
_________________
Contact Rich at: Rich.C@empowergmat.com
Image


The Course Used By GMAT Club Moderators To Earn 750+

souvik101990 Score: 760 Q50 V42 ★★★★★
ENGRTOMBA2018 Score: 750 Q49 V44 ★★★★★
Senior Manager
Senior Manager
avatar
S
Joined: 15 Jan 2017
Posts: 340
Re: The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 26 Nov 2017, 06:51
Its asking us which ones had variation more than 6%.

Payroll - we get -17/110*100 approx 15% over spend

Taxes - we get 2000/42000*100 = 2% . So not more than 6%

Insurance - -160/2500*100 = savings by 6.4%

So (C) is answer

Please correct my understanding if method is wrong. thanks
Senior Manager
Senior Manager
User avatar
P
Joined: 10 Apr 2018
Posts: 267
Location: United States (NC)
Re: The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 06 Aug 2018, 16:34
pushpitkc wrote:
In order to solve this problem,
Step 1: We need to calculate 6% of the amount budgeted for the various accounts.
Payroll - 6600
Taxes - 2000
Insurance - 150

Step 2: The range of the various departments are
Payroll - 103400 to 116000
Taxes - 38000 to 42000
Insurance - 2350 to 2650

From the values given in the question stem for amount spent,
Payroll and Insurance have values outside the range. Hence Option D is our answer.


Hi, pushpitkc,
Can you help to let me know if the below is correct.
The taxes should we calculate 6% then its will be 2400 and corresponding range will be 37600 to 42400.

Probus
_________________
Probus

~You Just Can't beat the person who never gives up~ Babe Ruth
Senior PS Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3333
Location: India
GPA: 3.12
The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 06 Aug 2018, 22:13
Probus wrote:
pushpitkc wrote:
In order to solve this problem,
Step 1: We need to calculate 6% of the amount budgeted for the various accounts.
Payroll - 6600
Taxes - 2000
Insurance - 150

Step 2: The range of the various departments are
Payroll - 103400 to 116000
Taxes - 38000 to 42000
Insurance - 2350 to 2650

From the values given in the question stem for amount spent,
Payroll and Insurance have values outside the range. Hence Option D is our answer.


Hi, pushpitkc,
Can you help to let me know if the below is correct.
The taxes should we calculate 6% then its will be 2400 and corresponding range will be 37600 to 42400.

Probus


Hey Probus and anje29

Thanks for intimating. Have made the necessary changes!
_________________
You've got what it takes, but it will take everything you've got
Non-Human User
User avatar
Joined: 09 Sep 2013
Posts: 13389
Re: The table shows the amount budgeted and the amount spent for each of  [#permalink]

Show Tags

New post 23 Sep 2019, 19:07
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: The table shows the amount budgeted and the amount spent for each of   [#permalink] 23 Sep 2019, 19:07
Display posts from previous: Sort by

The table shows the amount budgeted and the amount spent for each of

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  





cron

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne