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

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16 Jun 2017, 08:40

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A

B

C

D

E

Difficulty:

65% (hard)

Question Stats:

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

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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

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]

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16 Jun 2017, 08:49

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AbdurRakib wrote:

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

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

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16 Jun 2017, 09:48

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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. _________________

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

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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 .
_________________

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

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15 Nov 2017, 02:16

shashankism wrote:

AbdurRakib wrote:

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

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

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%.