NEW HERE? LEARN MORE
closeclose
Last visit was: 26 Apr 2024, 00:06 It is currently 26 Apr 2024, 00:06
Decision Tracker
My Rewards
New posts
New comers' posts

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.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

To determine her state income tax last year, Elena computed 5 percent

SORT BY:
Date
Kudos
Tags:
Find Similar Topics 
Show Tags
Hide Tags
User avatar
L
Bunuel
Math Expert
Joined: 02 Sep 2009
Posts: 92915
Own Kudos [?]: 619076 [5]
Given Kudos: 81595
Send PM
CAT Tests Forum Quiz Mode
To determine her state income tax last year, Elena computed 5 percent [#permalink] New post   11 Jun 2019, 01:20
5
Bookmarks
Expert Reply
00:00
A
B
C
D
E

Difficulty:

15% (low)

Question Stats:

81% (01:20) correct 19% (01:45) wrong based on 243 sessions
Hide Show timer Statistics
To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted $50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be?

A. $1,600
B. $1,625
C. $1,650
D. $1,675
E. $1,700
ShowHide Answer
Official Answer
A
User avatar
P
Lampard42
Senior Manager
Senior Manager
Joined: 22 Nov 2018
Posts: 446
Own Kudos [?]: 492 [0]
Given Kudos: 292
Location: India
GMAT 1: 640 Q45 V35
GMAT 2: 740 Q49 V41
Send PM
GMAT ToolKit User
Re: To determine her state income tax last year, Elena computed 5 percent [#permalink] New post   11 Jun 2019, 02:48
Bunuel wrote:
To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted $50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be?

A. $1,600
B. $1,625
C. $1,650
D. $1,675
E. $1,700


34500*5%=1725; Rounded 1700-100=1600 IMO A
User avatar
L
CareerGeek
VP
VP
Joined: 20 Jul 2017
Posts: 1300
Own Kudos [?]: 3450 [4]
Given Kudos: 162
Location: India
Concentration: Entrepreneurship, Marketing
GMAT 1: 690 Q51 V30
WE:Education (Education)
Send PM
Re: To determine her state income tax last year, Elena computed 5 percent [#permalink] New post   11 Jun 2019, 05:25
4
Kudos
Bunuel wrote:
To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted $50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be?

A. $1,600
B. $1,625
C. $1,650
D. $1,675
E. $1,700


5% of gross income = 5/100*34500 = 1725 $
The above figure is rounded off to nearest 100 --> 1700 $

She claimed 50 $ for each dependent = 2*50 = 100$

Net tax she paid = 1700 - 100 = 1600 $

IMO Option A

Pls Hit kudos if you like the solution
User avatar
L
BrentGMATPrepNow
GMAT Club Legend
GMAT Club Legend
Joined: 12 Sep 2015
Posts: 6820
Own Kudos [?]: 29936 [1]
Given Kudos: 799
Location: Canada
Send PM
Re: To determine her state income tax last year, Elena computed 5 percent [#permalink] New post   13 Apr 2020, 10:20
1
Kudos
Expert Reply
Top Contributor
Bunuel wrote:
To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted $50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be?

A. $1,600
B. $1,625
C. $1,650
D. $1,675
E. $1,700


Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100....
10% of $34,500 = $3450
So, 5% of $34,500 = $1725
Rounded DOWN to the nearest $100, $1725 becomes $1700

... and subtracted $50 for each dependent that she claimed.
Elena has 2 dependents
So, we subtract a total of $100

$1700 - $100 = $1600

Answer: A

Cheers,
Brent
User avatar
L
ScottTargetTestPrep
Target Test Prep Representative
Joined: 14 Oct 2015
Status:Founder & CEO
Affiliations: Target Test Prep
Posts: 18761
Own Kudos [?]: 22055 [1]
Given Kudos: 283
Location: United States (CA)
Send PM
Re: To determine her state income tax last year, Elena computed 5 percent [#permalink] New post   17 Feb 2021, 17:28
1
Kudos
Expert Reply
Bunuel wrote:
To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted $50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be?

A. $1,600
B. $1,625
C. $1,650
D. $1,675
E. $1,700

Solution:

First of all, 5% of $34,500 is 34,500 x 0.05 = $1,725. Rounded down to the nearest $100 yields $1,700. Finally, because she has 2 dependents, she can deduct 50 x 2 = $100. Therefore, her state income tax is 1,700 - 100 = $1,600.

Answer: A
User avatar
bumpbot
Non-Human User
Joined: 09 Sep 2013
Posts: 32680
Own Kudos [?]: 822 [0]
Given Kudos: 0
Send PM
Re: To determine her state income tax last year, Elena computed 5 percent [#permalink] New post   21 Feb 2022, 03:09
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
GMAT Club Bot
gmatclubot
Re: To determine her state income tax last year, Elena computed 5 percent [#permalink]
21 Feb 2022, 03:09
Moderators:
Bunuel
Math Expert
92915 posts
yashikaaggarwal
Senior Moderator - Masters Forum
3137 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions