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

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Joined: 28 May 2014
Posts: 210

Kudos [?]: 133 [0], given: 70

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

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03 Oct 2017, 07:18
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Question Stats:

67% (01:23) correct 33% (01:40) wrong based on 30 sessions

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 Kudos [?]: 133 [0], given: 70 Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 7676 Kudos [?]: 17369 [1], given: 232 Location: Pune, India Re: Three friends, Edward, Mark, and John invested money in a company [#permalink] ### Show Tags 03 Oct 2017, 08:51 1 This post received KUDOS Expert's post 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

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

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Get started with Veritas Prep GMAT On Demand for $199 Veritas Prep Reviews Kudos [?]: 17369 [1], given: 232 Director Joined: 22 May 2016 Posts: 819 Kudos [?]: 266 [0], given: 552 Three friends, Edward, Mark, and John invested money in a company [#permalink] ### Show Tags 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 Kudos [?]: 266 [0], given: 552 Target Test Prep Representative Status: Founder & CEO Affiliations: Target Test Prep Joined: 14 Oct 2015 Posts: 1648 Kudos [?]: 842 [0], given: 3 Location: United States (CA) Re: Three friends, Edward, Mark, and John invested money in a company [#permalink] ### Show Tags 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

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

and

2,200 = 2.2j

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

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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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