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02 Nov 2009, 04:02
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B
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Difficulty:
45%
(medium)
Question Stats:
65% (02:07) correct
35%
(01:59)
wrong
based on 461
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Three business partners owned 100% of a certain company. When they sold the company, one partner received exactly 5/8 of the proceeds of the sale and the other partners shared the remainder of the proceeds. How much money did the partner who received the smallest amount of the proceeds receive from the sale?
(1) The partner who received the smallest amount from the sale received exactly 1/5 the amount received by the partner who received the second largest amount.
(2) The partner who received the second largest amount from the sale received half of the two million dollars received by the partner who received the largest amount.
(1) The partner who received the smallest amount from the sale received exactly 1/5 the amount received by the partner who received the second largest amount.
(2) The partner who received the second largest amount from the sale received half of the two million dollars received by the partner who received the largest amount.
11 Jan 2011, 01:34
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ajit257
Three business partners owned 100% of a certain company. When they sold the company, one partner received exactly 5/8 of the proceeds of the sale and the other partners shared the remainder of the proceeds. How much money did the partner who received the smallest amount of the proceeds receive from the sale?
(1) The partner who received the smallest amount from the sale received exactly 1/5 the amount received by the partner who received the second largest amount.
(2) The partner who received the second largest amount from the sale received half of the two million dollars received by the partner who received the largest amount.
Can someone explain an efficient way to deal with such questions.
(1) The partner who received the smallest amount from the sale received exactly 1/5 the amount received by the partner who received the second largest amount.
(2) The partner who received the second largest amount from the sale received half of the two million dollars received by the partner who received the largest amount.
Can someone explain an efficient way to deal with such questions.
X received 5/8 th of the total and Y and Z (smallest) received the remaining.
(1) The partner who received the smallest amount from the sale received exactly 1/5 the amount received by the partner who received the second largest amount --> we still have just ratios and not the amounts. Not sufficient.
(2) The partner who received the second largest amount from the sale received half of the two million dollars received by the partner who received the largest amount --> X = $2 million = 5/8 * total --> total = $16/5 million --> Y = $2 million / 2 = $1 million --> Z = total - X - Y = $16/5 million - $2 million - $1 million = $0.2 million. Sufficient.
Answer: B.
General Discussion
02 Nov 2009, 05:20
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B.
A. Total not known, not sufficient
B.
5/8x=2mm highest share partner (mm=million)
x=16/5mm total
remaining share=3/8x=6/5mm
second largest share, given, 1mm
smallest share=6/5mm-1mm=1/5mm
Sufficient
A. Total not known, not sufficient
B.
5/8x=2mm highest share partner (mm=million)
x=16/5mm total
remaining share=3/8x=6/5mm
second largest share, given, 1mm
smallest share=6/5mm-1mm=1/5mm
Sufficient
