GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 18 Nov 2018, 10:42

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.

Close

Request Expert Reply

Confirm Cancel
Events & Promotions in November
PrevNext
SuMoTuWeThFrSa
28293031123
45678910
11121314151617
18192021222324
2526272829301
Open Detailed Calendar
  • How to QUICKLY Solve GMAT Questions - GMAT Club Chat

     November 20, 2018

     November 20, 2018

     09:00 AM PST

     10:00 AM PST

    The reward for signing up with the registration form and attending the chat is: 6 free examPAL quizzes to practice your new skills after the chat.
  • The winning strategy for 700+ on the GMAT

     November 20, 2018

     November 20, 2018

     06:00 PM EST

     07:00 PM EST

    What people who reach the high 700's do differently? We're going to share insights, tips and strategies from data we collected on over 50,000 students who used examPAL.

Your income for a year is $26,000. You receive a raise so that next ye

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 50627
Your income for a year is $26,000. You receive a raise so that next ye  [#permalink]

Show Tags

New post 24 Oct 2017, 00:29
00:00
A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

95% (01:38) correct 5% (01:29) wrong based on 57 sessions

HideShow timer Statistics

Image
Your income for a year is $26,000. You receive a raise so that next year your income will be $29,000. How much more will you pay in taxes next year if the tax rate remains the same?

(A) $70
(B) $180
(C) $200
(D) $210
(E) $700

_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Manager
Manager
User avatar
S
Joined: 05 Dec 2016
Posts: 244
Concentration: Strategy, Finance
GMAT 1: 620 Q46 V29
GMAT ToolKit User
Re: Your income for a year is $26,000. You receive a raise so that next ye  [#permalink]

Show Tags

New post 24 Oct 2017, 04:45
1070+7%*4000-1070-7%*1000=210$
Target Test Prep Representative
User avatar
G
Status: Head GMAT Instructor
Affiliations: Target Test Prep
Joined: 04 Mar 2011
Posts: 2830
Re: Your income for a year is $26,000. You receive a raise so that next ye  [#permalink]

Show Tags

New post 26 Oct 2017, 14:43
Bunuel wrote:
Image
Your income for a year is $26,000. You receive a raise so that next year your income will be $29,000. How much more will you pay in taxes next year if the tax rate remains the same?

(A) $70
(B) $180
(C) $200
(D) $210
(E) $700


The difference in taxes is:

[1,070 + 0.07(29,000 - 25,000)] - [1,070 + 0.07(26,000 - 25,000)]

0.07(4,000) - 0.07(1,000)

0.07(3,000) = 210

Answer: D
_________________

Jeffery Miller
Head of GMAT Instruction

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

Senior SC Moderator
avatar
V
Joined: 22 May 2016
Posts: 2110
Premium Member CAT Tests
Your income for a year is $26,000. You receive a raise so that next ye  [#permalink]

Show Tags

New post 27 Oct 2017, 15:47
Bunuel wrote:
Image
Your income for a year is $26,000. You receive a raise so that next year your income will be $29,000. How much more will you pay in taxes next year if the tax rate remains the same?

(A) $70
(B) $180
(C) $200
(D) $210
(E) $700

At both $26K and $29K, you are in the same tax bracket. You will pay the same flat fee of $1070. Ignore that flat fee. Adding in the same amount will not make a difference.

The difference comes from the second part of tax calculation: you pay 7 percent of any income that exceeds $25,000

At $26,000, you exceed by $1000.
So you pay (1000)(.07) = $70

At $29,000, you exceed by $4,000.
So you pay (4000)(.07) = $280

How much more do you pay if you get a raise?

$280 - 70 = $210
Answer D
GMAT Club Bot
Your income for a year is $26,000. You receive a raise so that next ye &nbs [#permalink] 27 Oct 2017, 15:47
Display posts from previous: Sort by

Your income for a year is $26,000. You receive a raise so that next ye

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.