certain company

This topic has 1 expert reply and 4 member replies
ttv Junior | Next Rank: 30 Posts Default Avatar
Joined
04 Jan 2008
Posted:
13 messages

certain company

Post Fri Jan 18, 2008 11:25 am
Elapsed Time: 00:00
  • Lap #[LAPCOUNT] ([LAPTIME])
    A certain company retirement plan has a "rule of 70" provision that allows an employee to retire when the employee's age plus years of employment with the company total at least 70. In what year could a female employee hired in 1986 on her 32nd birthday first be eligible to retire under the provision?

    (A) 2003
    (B) 2004
    (C) 2005
    (D) 2006
    (E) 2007




    -thanx

    Need free GMAT or MBA advice from an expert? Register for Beat The GMAT now and post your question in these forums!
    solaris Senior | Next Rank: 100 Posts Default Avatar
    Joined
    02 Jan 2008
    Posted:
    41 messages
    Thanked:
    9 times
    Post Fri Jan 18, 2008 11:35 am
    My guess is C) - 2005

    After 1 year in 1987, her "rule of 70" total is - 33+1=34. For each year add 2 to the "rule of 70" total.

    In 2005, you get 70.


    ttv wrote:
    A certain company retirement plan has a "rule of 70" provision that allows an employee to retire when the employee's age plus years of employment with the company total at least 70. In what year could a female employee hired in 1986 on her 32nd birthday first be eligible to retire under the provision?

    (A) 2003
    (B) 2004
    (C) 2005
    (D) 2006
    (E) 2007




    -thanx

    Thanked by: ttv
    ttv Junior | Next Rank: 30 Posts Default Avatar
    Joined
    04 Jan 2008
    Posted:
    13 messages
    Post Fri Jan 18, 2008 11:40 am
    solaris wrote:
    My guess is C) - 2005

    After 1 year in 1987, her "rule of 70" total is - 33+1=34. For each year add 2 to the "rule of 70" total.

    In 2005, you get 70.


    ttv wrote:
    A certain company retirement plan has a "rule of 70" provision that allows an employee to retire when the employee's age plus years of employment with the company total at least 70. In what year could a female employee hired in 1986 on her 32nd birthday first be eligible to retire under the provision?

    (A) 2003
    (B) 2004
    (C) 2005
    (D) 2006
    (E) 2007




    -thanx
    yeah ur answer is right.

    II Master | Next Rank: 500 Posts
    Joined
    10 Dec 2007
    Posted:
    400 messages
    Thanked:
    19 times
    Target GMAT Score:
    700
    GMAT Score:
    680
    Post Fri Jan 18, 2008 2:35 pm
    This can be written as e+t = 70, where e is employees age, and t is time with company.

    For the employee hired in 1986, age 32, we know the following:
    - in 1987, she will have spent 1 year with the company, and will be 32+1 years of age.
    So to get the age for her retirement, the e+t=70 equation from above, can be rewritten as:
    (e+t)+t = 70, where (e+t) where e is the orginal age, and t is the number of years with the company.

    so, (e+t)+t = 70, can be simplified to read:
    e+2t=70
    We know e = 32, so we can write:
    32+2t=70
    2t=38
    t=19

    So she would have had to spend 19 years with the company to get her retirement ... 1985+19 = 2005.

    Answer is C.

    Thanked by: ttv

    GMAT/MBA Expert

    Stuart Kovinsky GMAT Instructor
    Joined
    08 Jan 2008
    Posted:
    3225 messages
    Followed by:
    606 members
    Thanked:
    1705 times
    GMAT Score:
    800
    Post Fri Jan 18, 2008 7:12 pm
    The above are good explanations, we can also use common sense.

    Every year you get a year older and gain 1 year of work experience, so every year you get 2 years closer to your goal of 70.

    If she's 32 to start, she's 38 away from her goal.

    38 at 2 per year = 19 more years, so 1986 + 19 = 2005

    Free GMAT Practice Test under Proctored Conditions! - Find a practice test near you or live and online in Kaplan's Classroom Anywhere environment. Register today!
    II Master | Next Rank: 500 Posts
    Joined
    10 Dec 2007
    Posted:
    400 messages
    Thanked:
    19 times
    Target GMAT Score:
    700
    GMAT Score:
    680
    Post Sat Jan 19, 2008 1:37 am
    Stuart Kovinsky wrote:
    The above are good explanations, we can also use common sense.

    Every year you get a year older and gain 1 year of work experience, so every year you get 2 years closer to your goal of 70.

    If she's 32 to start, she's 38 away from her goal.

    38 at 2 per year = 19 more years, so 1986 + 19 = 2005
    I suppose when you are deep into your studies for the GMAT, and learning all the concepts ... it is a bit difficult sometimes to step back and look at the problem from a common sense angle, as you are keen to apply the concepts learnt.
    Good point though !
    I suppose when answering practice question, we need to review the answers and think about other ways in which we could have answered the question ... especially techniques which help us get the answer quicker !

    Best Conversation Starters

    1 AbeNeedsAnswers 30 topics
    2 amontobin 16 topics
    3 richachampion 12 topics
    4 NandishSS 8 topics
    5 rsarashi 5 topics
    See More Top Beat The GMAT Members...

    Most Active Experts

    1 image description Matt@VeritasPrep

    Veritas Prep

    74 posts
    2 image description GMATGuruNY

    The Princeton Review Teacher

    72 posts
    3 image description Rich.C@EMPOWERgma...

    EMPOWERgmat

    66 posts
    4 image description DavidG@VeritasPrep

    Veritas Prep

    65 posts
    5 image description Jay@ManhattanReview

    Manhattan Review

    55 posts
    See More Top Beat The GMAT Experts