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Three friends, Edward, Mark, and John invested money in a company

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Three friends, Edward, Mark, and John invested money in a company [#permalink]

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Three friends, Edward, Mark, and John invested money in a company. When they divided the first quarter's profit, Edward received 10% more money that Mark and 120% more than John. If Mark received $2000 profit, how much did John get?

(a) 1000
(b) 1500
(c) 1833
(d) 2200
(e) 2222
[Reveal] Spoiler: OA

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Re: Three friends, Edward, Mark, and John invested money in a company [#permalink]

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New post 03 Oct 2017, 08:51
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saswata4s wrote:
Three friends, Edward, Mark, and John invested money in a company. When they divided the first quarter's profit, Edward received 10% more money that Mark and 120% more than John. If Mark received $2000 profit, how much did John get?

(a) 1000
(b) 1500
(c) 1833
(d) 2200
(e) 2222


Mark received 2000.
Edward received 10% more than Mark so he received 2000 + 200 = 2200
Edward received 120% more than John so 2200 is 120% more than J

J + (120/100)*J = 2200
J = 2200*5/11 = 1000

Answer (A)
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Kudos [?]: 266 [0], given: 552

Three friends, Edward, Mark, and John invested money in a company [#permalink]

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New post 03 Oct 2017, 11:26
saswata4s wrote:
Three friends, Edward, Mark, and John invested money in a company. When they divided the first quarter's profit, Edward received 10% more money that Mark and 120% more than John. If Mark received $2000 profit, how much did John get?

(a) 1000
(b) 1500
(c) 1833
(d) 2200
(e) 2222

These numbers work well with multipliers. Given Mark's amount, find Edward's amount, then John's.

1) Mark --> Edward

Edward gets 10% more than Mark
10% more than M is
1M + .10M = 1.10M
E = 1.10 M

Mark gets $2000. Edward's amount?

E = 1.10M = (1.1)(2000) = 2200

Edward gets $2200. John's amount?

2) Edward --> John

Edward gets 120% more than John
120% more than J is*
1J + 1.20J = 2.20J
E = 2.2J, and E gets $2200, so J is

2200 = 2.2J

J = \(\frac{2200}{2.2}\) = $1000

John gets $1000

Answer A

*"Percent more than" says,"All of X, plus some percent more than X." That is, percent more than always includes 100% of the original X. In decimal form 100% = 1

You can just add 1 to the multiplier for "percent greater than."

100% more than = 1X + 1X = X(1 + 1) = 2X
250% more than =
2.5X + 1X = X(2.5+1) = 3.5X

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Re: Three friends, Edward, Mark, and John invested money in a company [#permalink]

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New post 05 Oct 2017, 10:19
saswata4s wrote:
Three friends, Edward, Mark, and John invested money in a company. When they divided the first quarter's profit, Edward received 10% more money that Mark and 120% more than John. If Mark received $2000 profit, how much did John get?

(a) 1000
(b) 1500
(c) 1833
(d) 2200
(e) 2222


We can create the following equations:

e = 1.1m

and

e = 2.2j

Since Mark received $2,000:

e = 1.1(2,000) = 2,200

and

2,200 = 2.2j

j = 2,200/2.2 = 22,000/22 = 1,000

Answer: A
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Kudos [?]: 842 [0], given: 3

Re: Three friends, Edward, Mark, and John invested money in a company   [#permalink] 05 Oct 2017, 10:19
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