Last year Carlos saved 10 percent of his annual earnings. This year

Question

Last year Carlos saved 10 percent of his annual earnings. This year he earned 5 percent more than last year and he saved 12 percent of his annual earnings. The amount saved this year was what percent of the amount saved last year?

(A) 122%
(B) 124%
(C) 126%
(D) 128%
(E) 130%

(A) 122%
(B) 124%
(C) 126%
(D) 128%
(E) 130%

Bunuel · Accepted Answer

SOLUTION

Last year Carlos saved 10 percent of his annual earnings. This year he earned 5 percent more than last year and he saved 12 percent of his annual earnings. The amount saved this year was what percent of the amount saved last year?

(A) 122%
(B) 124%
(C) 126%
(D) 128%
(E) 130%

(A) 122%
(B) 124%
(C) 126%
(D) 128%
(E) 130%

LAST YEAR:
Earnings = 100 (assume).
Amount saved = 0.1*100 =10.

THIS YEAR:
Earnings = 100*1.05 = 105.
Amount saved = 0.12*105 =12.6.

The amount saved  this year  as a percent of the amount saved  last year  is (this yea)/(last year)*100 = 12.6/10*100 =126%.

Answer: C.

Abdul29 · Answer

I got (C).

Assuming last year's annual earnings = 100. Then amount saved last year = 10.
Since Carlos earned 5% more this year than last year, then he earned 105 this year.

12% of 105 = 12.60. This year's savings as % of last year's savings:

\frac{12.60}{10}  = 12.6, multiplied by 100 to arrive at %, resulting in 126%.

AKG1593 · Answer

Option C.
Let last yrs earning=100
Savings=10
Current yrs earning=105
Saving=12% of 105=12.6
Increase=1.26 times or 126%

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djanand · Answer

\frac{0.12 * (1.05 * E) * 100}{0.1 * E}

where E is the last year's earnings.

\frac{0.126 *100}{0.1}

1.26 *100

Option C

Manofsteel · Answer

Assume his last years earnings was 100
So 10% saving last year = 10

Since next year he earned 5% more his earning next year = 100*1.05 = 105
12% he saved this year = 0.12*105 = 12.60

So % of saving increase = (12.60/10)*100 = 126%
Option (C)

b2bt · Answer

Last year earning - x
Last year savings - .1x
This year earning - 1.05x (5% more than last year)
This year savings - .126x 
Answer .126/.1 - C

dheeraj24 · Answer

Last Year : 10% of X = 0.1X;
This Year : 12% of 1.2X = 0.126X;

Questions asks us 0.126X is what % of 0.1X;;

Y= 126% ;

unceldolan · Answer

Earnings = E

Last year savings: 0.1E
This Year savings: 0.12 x 1.05E = 0.126E

%-Increase NEW/OLD = 0.126/0.1 = 1.26 = 126%

ScottTargetTestPrep · Answer

Let n = the amount saved last year. The amount saved this year, as a percentage of what was saved last year, is:

(1.05n * 0.12)/(0.1n) = 1.05 * 1.2 = 1.26 = 126%

Answer: C

hiranmay · Answer

Last year Carlos saved 10 percent of his annual earnings. This year he earned 5 percent more than last year and he saved 12 percent of his annual earnings. The amount saved this year was what percent of the amount saved last year?

(A) 122%
(B) 124%
(C) 126%
(D) 128%
(E) 130%

(A) 122%
(B) 124%
(C) 126% -->   correct : (this year savings) / (last year savings) = (0.12*1.05*last yr earnings)*100/(0.10*last yr earnings)=0.12*1.05*100/0.1= 12*105*100/1000 =12*105/10=6*21=126 
(D) 128%
(E) 130%

Samu006 · Answer

Teams A and B play in the World Series of baseball, where the team that first wins four games wins the series. Suppose
A wins the first game, and that the team that wins the second game also wins the fourth game.
(a) Find and list the number n of ways the series can occur.
(b) Find the number of ways that B wins the series.
(c) Find the number of ways the series lasts seven games.

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ArnauG · Answer

Let's assume Carlos's annual earnings last year were represented by 'x' dollars.

Last year, Carlos saved 10 percent of his annual earnings:
Amount saved last year = 0.10 * x = 0.1x

This year, Carlos earned 5 percent more than last year:
Carlos's earnings this year = x + (5/100) * x = x + 0.05x = 1.05x

This year, Carlos saved 12 percent of his annual earnings:
Amount saved this year = 0.12 * 1.05x = 0.126x

To find the percent relationship between the amount saved this year and the amount saved last year, we can calculate:
(Amount saved this year / Amount saved last year) * 100

(0.126x / 0.1x) * 100 = 1.26 * 100 = 126

Therefore, the amount saved this year was 126% of the amount saved last year, which corresponds to option (C) in the given choices.

totaltestprepNick · Answer

C https://www.youtube.com/watch?v=74jGPjYfYz4 Nick Slavkovich, GMAT/GRE tutor with 20+ years of experience tutoring@totaltestprep.net

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