It is currently 17 Dec 2017, 23:20

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

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

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

Top Contributor
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: 563

Kudos [?]: 3073 [0], given: 220

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 16 Jun 2017, 08:40
Top Contributor
5
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  65% (hard)

Question Stats:

59% (01:30) correct 41% (01:29) wrong based on 522 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


[Reveal] Spoiler:
Attachment:
9qwc4m.jpg
9qwc4m.jpg [ 8.74 KiB | Viewed 3289 times ]
[Reveal] Spoiler: OA

_________________

Md. Abdur Rakib

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


Last edited by Bunuel on 16 Jun 2017, 08:45, edited 1 time in total.
Renamed the topic and edited the question.

Kudos [?]: 3073 [0], given: 220

2 KUDOS received
Director
Director
User avatar
P
Joined: 13 Mar 2017
Posts: 560

Kudos [?]: 140 [2], given: 64

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, 08:49
2
This post received
KUDOS
2
This post was
BOOKMARKED
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


[Reveal] Spoiler:
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%

[Reveal] Spoiler:
Answer D

_________________

MBA Social Network : WebMaggu

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

Kudos [?]: 140 [2], given: 64

1 KUDOS received
BSchool Forum Moderator
User avatar
D
Joined: 26 Feb 2016
Posts: 1710

Kudos [?]: 755 [1], given: 20

Location: India
Concentration: General Management, Leadership
WE: Sales (Retail)
Premium Member CAT Tests
Re: The table shows the amount budgeted and the amount spent for each of [#permalink]

Show Tags

New post 16 Jun 2017, 09:48
1
This post received
KUDOS
1
This post was
BOOKMARKED
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.
_________________

Stay hungry, Stay foolish

2017-2018 MBA Deadlines

Class of 2020: Rotman Thread | Schulich Thread
Class of 2019: Sauder Thread

Kudos [?]: 755 [1], given: 20

Senior Manager
Senior Manager
User avatar
G
Status: Active
Affiliations: NA
Joined: 23 Oct 2012
Posts: 325

Kudos [?]: 26 [0], given: 58

GMAT 1: 590 Q50 V21
GMAT 2: 600 Q48 V25
GMAT 3: 650 Q49 V30
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, 20:08
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 :)

Kudos [?]: 26 [0], given: 58

Intern
Intern
User avatar
B
Joined: 09 Mar 2016
Posts: 49

Kudos [?]: 5 [0], given: 50

Re: The table shows the amount budgeted and the amount spent for each of [#permalink]

Show Tags

New post 15 Nov 2017, 02:16
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


[Reveal] Spoiler:
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%

[Reveal] Spoiler:
Answer D


Isn`t it time consuming to calculate all this ? :? is there a shortcut ? :)

Kudos [?]: 5 [0], given: 50

Expert Post
Target Test Prep Representative
User avatar
S
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 1945

Kudos [?]: 1025 [0], given: 3

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, 16:13
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


[Reveal] Spoiler:
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

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

Kudos [?]: 1025 [0], given: 3

Expert Post
EMPOWERgmat Instructor
User avatar
P
Status: GMAT Assassin/Co-Founder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 10425

Kudos [?]: 3701 [0], given: 173

Location: United States (CA)
GMAT 1: 800 Q51 V49
GRE 1: 340 Q170 V170
Re: The table shows the amount budgeted and the amount spent for each of [#permalink]

Show Tags

New post 20 Nov 2017, 16:36
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:
[Reveal] Spoiler:
D


GMAT assassins aren't born, they're made,
Rich
_________________

760+: Learn What GMAT Assassins Do to Score at the Highest Levels
Contact Rich at: Rich.C@empowergmat.com

Rich Cohen

Co-Founder & GMAT Assassin

Special Offer: Save $75 + GMAT Club Tests Free
  Official GMAT Exam Packs + 70 Pt. Improvement Guarantee
www.empowergmat.com/

***********************Select EMPOWERgmat Courses now include ALL 6 Official GMAC CATs!***********************

Kudos [?]: 3701 [0], given: 173

Senior Manager
Senior Manager
avatar
S
Joined: 15 Jan 2017
Posts: 347

Kudos [?]: 5 [0], given: 781

CAT Tests
Re: The table shows the amount budgeted and the amount spent for each of [#permalink]

Show Tags

New post 26 Nov 2017, 05:51
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

Kudos [?]: 5 [0], given: 781

Re: The table shows the amount budgeted and the amount spent for each of   [#permalink] 26 Nov 2017, 05:51
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  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

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

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.