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805+ (Hard)|   Word Problems|      
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Bunuel
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Travis is working as a programmer of IBW. Travis earns $3,500 annually 05 Sep 2019, 04:54
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34% (02:28) correct 66% (02:22) wrong based on 71 sessions

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Travis is working as a programmer of IBW. Travis earns $3,500 annually. If Travis pays 2.5% of that amount quarterly to support groups and he paid $525 so far, for how many years now has Travis been paying?

A. 2.
B. 2.5.
C. 4.
D. 5.5.
E. 6.
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B
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Travis is working as a programmer of IBW. Travis earns $3,500 annually Updated on: 05 Sep 2019, 23:42
Originally posted by Archit3110 on 05 Sep 2019, 07:40.
Last edited by Archit3110 on 05 Sep 2019, 23:42, edited 1 time in total.
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Bunuel
Travis is working as a programmer of IBW. Travis earns $3,500 annually. If Travis pays 2.5% of that amount quarterly to support groups and he paid $525 so far, for how many years now has Travis been paying?

A. 2.
B. 2.5.
C. 4.
D. 5.5.
E. 6.
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3500 annually 3500 * 2.5/100 * 1/4 = 87.5
525/87.5= 6
Total duration 6*3=18months
I.e 2.5 years
IMO B
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Travis is working as a programmer of IBW. Travis earns $3,500 annually 05 Sep 2019, 19:48
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Could you please explain the logic. $87.5 per quarter x 6 quarters = $525.

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Travis is working as a programmer of IBW. Travis earns $3,500 annually 05 Sep 2019, 19:58
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A poorly written unofficial question I must say.

It assumes that he starts giving only after first year

Thereafter for 6 quarters 87.5(2.5%of 3500) makes 525

1 year + 6 quarters(1.5 year)= 2.5 years

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Travis is working as a programmer of IBW. Travis earns $3,500 annually 05 Sep 2019, 23:44
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charanGMAT305
Could you please explain the logic. $87.5 per quarter x 6 quarters = $525.

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87.5 is the quarterly amount which is paid so divide 525 with it we get 6 i.e insatllments or times the amount has been paid so 6*3=18 month ~2.5 years
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Travis is working as a programmer of IBW. Travis earns $3,500 annually 06 Sep 2019, 00:46
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I believe everyone got one thing wrong.
$87.5 is annual contribution and not quarterly contribution (which many people here have taken)

$3500 is annual salary and not quarterly salary.

So No. of years paying = 525/87.5= 6 years

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Travis is working as a programmer of IBW. Travis earns $3,500 annually 06 Sep 2019, 00:53
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Archit3110
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Could you please explain the logic. $87.5 per quarter x 6 quarters = $525.

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87.5 is the quarterly amount which is paid so divide 525 with it we get 6 i.e insatllments or times the amount has been paid so 6*3=18 month ~2.5 years
charanGMAT305
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Hi Archit3110, Isn't 18 months - 1.5 years.
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Travis is working as a programmer of IBW. Travis earns $3,500 annually 06 Sep 2019, 02:19
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Arvind42
Archit3110
charanGMAT305
Could you please explain the logic. $87.5 per quarter x 6 quarters = $525.

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87.5 is the quarterly amount which is paid so divide 525 with it we get 6 i.e insatllments or times the amount has been paid so 6*3=18 month ~2.5 years
charanGMAT305

Hi Archit3110, Isn't 18 months - 1.5 years.
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Arvind42 ; yes you are right but given the answer option it seems that the question assumes that he starts paying after 1 year ; hence 1 year + 6 quarters ; 12+ 18 ; 30 months or say 2.5 years
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Travis is working as a programmer of IBW. Travis earns $3,500 annually 15 Jan 2026, 00:25
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