A certain boxer has agreed to pay his opponent a fee of 2.5% of his to

Question

A certain boxer has agreed to pay his opponent a fee of 2.5% of his total purse for every pound over the specified weight limit he weighs in. If the boxer pays his opponent a fee of $26,250 after weighing in seven pounds over the specified limit, what was the boxer's purse?

A. $65,625
B. $105,000
C. $150,000
D. $183,750
E. $1,050,000

Kudos for a correct solution.

A. $65,625
B. $105,000
C. $150,000
D. $183,750
E. $1,050,000

Kudos for a correct  solution .

chetan2u · Answer

ans C..
 7 extra pounds means the boxer has paid 7*2.5%=17.5%..
 this should be equal to 26250.. so total =26250*100/17.5 = 150000

LaxAvenger · Answer

(0,025 * x) * 7 = 26250

25/1000x = 3750

x = 3750 * 1000/25

x = 150 000

Answer C

peachfuzz · Answer

.025*7 = .175

26250/.175 = $150,000

Answer: C

DesiGmat · Answer

Here we go:

2.5% of his total purse for every pound over the specified weight limit

His opponent weighs seven pounds over the specified limit

7 * x * (2.5/100) = 26250

solve for x.

x = 150,000

Option C is correct

PareshGmat · Answer

Answer = C. $150,000

Let the total purse = x

Fees paid for 7 pounds  = \frac{2.5x}{100} * 7 = 26250

x = 150000

EMPOWERgmatRichC · Answer

Hi All,

This question is perfect for TESTing THE ANSWERS.

From the given information, we know that for every 1 pound over the specified weight limit, a boxer will pay a 2.5% fee (of the total purse) to his opponent. We're told that the boxer weighs in 7 pounds overweight, so the fee is (2.5%)(7) = 17.5% of the total purse. Next, we're told that the fee is $26,250. We're asked for the TOTAL PURSE.

Since the answers are numbers, one of them MUST be the total purse.

For 17.5% to equal $26,250, the total purse MUST be well above $100,000 (since 17.5% of 100,000 is 17,500). Considering how "spread out" the answer choices are, I'd start by TESTing Answer C....

IF...
The total purse was $150,000, then....
10% = $15,000
7.5% = $11,250
17.5% = $26,250

This is a MATCH for what we were told, so this MUST be the answer.

Final Answer:  C

GMAT assassins aren't born, they're made,
Rich

Bunuel · Answer

VERITAS PREP OFFICIAL SOLUTION:

Solution: C.

Start by figuring out the fee as a percentage. If the fee is 2.5% per pound, then a fee for seven pounds is 2.5% times 7, or 17.5% of the purse. If the fee is also equal to $26,250, then we can set up an equation: 17.5% of the purse = $26,250, or .175x = $26,250.

At this point approximation is probably best. If we multiply both sides by 6, we'd have approximately x on one side and approximately $150,000 on the other side, so the correct answer is C.

Raffio · Answer

Answer is C.

I started with the following equation:

26,250 = 7 * 2.5% * x

Then divided by 7

3,750 = 2.5% * x

Then doubled each side

7,500 = 5.0% * x

Then multiplied each side by 20

150,000 = x

bumpbot · Answer

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A certain boxer has agreed to pay his opponent a fee of 2.5% of his to

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A certain boxer has agreed to pay his opponent a fee of 2.5% of his to

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