In Plutarch Enterprises, 70% of the employees are marketers, 20% are e

Question

In Plutarch Enterprises, 70% of the employees are marketers, 20% are engineers, and the rest are managers. Marketers make an average salary of $50,000 a year, and engineers make an average of $80,000. What is the average salary for managers if the average for all employees is also $80,000?

A. $80,000
B. $130,000
C. $240,000
D. $290,000
E. $320,000

Kudos for a correct solution.

A. $80,000 
B. $130,000 
C. $240,000 
D. $290,000 
E. $320,000

Kudos for a correct  solution .

BrentGMATPrepNow · Accepted Answer

We can solve this using  weighted averages

Weighted average of groups combined = (group A proportion)(group A average) + (group B proportion)(group B average) + (group C proportion)(group C average) + . . .

We're told that: 
The marketers (with an average annual salary of $50,000) comprise 7/10 of the group 
The engineers (with an average annual salary of $80,000) comprise 2/10 of the group 
The managers (with an average annual salary of $  x  ) comprise 1/10 of the group 
The average salary of all groups COMBINED =  80,000

Applying the formula we get:  80,000  = (7/10)($50,000) + (2/10)($80,000) + (1/10)(  x  )
Simplify: 80,000 = 35,000 + 16,000 + 0.1x
Simplify: 80,000 = 51,000 + 0.1x
We get: 29,000 = 0.1x
Solve: x = 290,000

Answer: D

For more information on weighted averages, watch this video:
 https://www.youtube.com/watch?v=B7J6lr_qBG4

sterling19 · Answer

For sake of ease, let's say there are 10 employees: 7 marketers, 2 engineers, and 1 manager.
Average company salary * Number of employees = Total company salary 
>>> $80,000 * 10 = $800,000

Subtract the combined salaries for the marketers (7 * $50,000) and the engineers (2 * $80,000)
>>> $800,000 - $350,000 - $160,000 = $290,000.

The correct answer is D.

peachfuzz · Answer

We can take out the extra zeroes to make calculations easier.

7(50)+2(80)+1x / 10 = 80
350+160+x = 800
x = 290

Adding the zeroes back in results in $290,000

Answer: D

chetan2u · Answer

again a weighted avg question...
the final avg is 80000 we can leave out the 20% as they also have the same average..
now the remaining 70% and 10% get the avg to 80000...
ratio.. 70%:10%=7:1...
total 8 portions out of which one portion=80000-50000=30000...
so 7 portions=7*30000=210000...
therefore avg of 10 %=80000+210000=290000... ans D

adityadon · Answer

Ans is D 
(70*50+20*80+10*x)/100=80
X=290
which is 290,000

PareshGmat · Answer

Answer = D. $290,000

Lets say total employees = 100

Let the salary of Manager = x

Setting up the equation:

\frac{70}{100} * 50000 + \frac{20}{100} * 80000 + \frac{10}{100} * x = 80000 * 100

x = 10000   = 290000

Lucky2783 · Answer

Application of weighted average technique : 
Marketers:Engineers:Managers
7:2:1
from this we can make out 
W.Avg is 1 Unit far from Marketers' avg. sal , 7 Units far from Manager's avg. sal and 0 unit far(as engineers avg sal is same as w.Avg) from Engineers' avg. sal

so Managers' avg. sal will 50,000 + 8X where X=80,000 - 50,000 = 30,000
--> 50,000+240,000 = 290, 000 Answer D.

Bunuel · Answer

MAGOOSH OFFICIAL SOLUTION:

We will approach this use the proportion & percents approach. Divide all dollar amounts by 1000 for smaller numbers. Multiply each group average by the percent expressed as a decimal:

marketers = 0.70*50 = 35

engineers = 0.20*80 = 16

managers = 0.10*x = 0.1x

where x is the average salary for the managers. These three should add up to the average for all employees:

35 + 16 + 0.1x = 80

0.1x = 80 – 35 – 16

0.1x = 29

x = 290

Now, multiply the 1000 again, to get back to real dollar amounts. The average salary for managers is $290,000.

Answer = (D)

ScottTargetTestPrep · Answer

We can let the total number of employees in Plutarch Enterprises be 10. So 7 are marketers, 2 are engineers, and 1 is a manager. Letting n = the salary of the manager, we can create the equation:

(7 x 50,000 + 2 x 80,000 + n)/10 = 80,000

350,000 + 160,000 + n = 800,000

510,000 + n = 800,000

n = 290,000

Answer: D

Mohammadmo · Answer

70*50000 + 20*80000+ 10X = 8000000
10X=2900000
X=290000$
Option D

Posted from my mobile device

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