Problem Solving

It is tough question for me , pls help to solve this.

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$686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?

* (A) $96,000
* (B) $97,000
* (C) $98,000
* (D) $99,000
* (E) $100,000

Ans: C => pls explain

Thanks
Sarwan

sarwan wrote:$686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?

* (A) $96,000
* (B) $97,000
* (C) $98,000
* (D) $99,000
* (E) $100,000

Ans: C => pls explain

Thanks
Sarwan

Let the minimum bonus be x.
Next maximum bonus can be 1.2X
Assume all other employees received maximum bonus. [Because we need the minimum possible bonus for 1 employee]
Implies that x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

Hey kvcpk,
I saw most of your problems....You rock.....

muralithe1 wrote:Hey kvcpk,
I saw most of your problems....You rock.....

Thanks Buddy

kvcpk wrote:

sarwan wrote:$686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?

* (A) $96,000
* (B) $97,000
* (C) $98,000
* (D) $99,000
* (E) $100,000

Ans: C => pls explain

Thanks
Sarwan

Let the minimum bonus be x.
Next maximum bonus can be 1.2X
Assume all other employees received maximum bonus. [Because we need the minimum possible bonus for 1 employee]
Implies that x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

Hi Thanks, for your help.

You people are great yaar, to solve the problem quickly. I really respect your talent.
Thanks again.


~Sarwan Gupta

kvcpk wrote:

sarwan wrote:$686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?

* (A) $96,000
* (B) $97,000
* (C) $98,000
* (D) $99,000
* (E) $100,000

Ans: C => pls explain

Thanks
Sarwan

Let the minimum bonus be x.
Next maximum bonus can be 1.2X
Assume all other employees received maximum bonus. [Because we need the minimum possible bonus for 1 employee]
Implies that x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

hey can you explain me briefly ............little bit clear....

aarati wrote:hey can you explain me briefly ............little bit clear....

No employee is to receive a bonus more than 20% greater than the bonus received by any other employee
This means that the difference between bonuses of any two employees should not be more than 20%.

We are being asked for minimum bonus.
Our goal is to maximize the difference between bonuses.

Let the minimum bonus be x.
So maximum bonus can be 1.2X [because difference should not be more than 20%]
Assume all other employees received the same 1.2X. [They cannot receive more than this because difference between X and them will be more than 20%] Aslo, Because we need the minimum possible bonus for only 1 employee.

Implies that Total bonus = x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

kvcpk wrote:

aarati wrote:hey can you explain me briefly ............little bit clear....

No employee is to receive a bonus more than 20% greater than the bonus received by any other employee
This means that the difference between bonuses of any two employees should not be more than 20%.

We are being asked for minimum bonus.
Our goal is to maximize the difference between bonuses.

Let the minimum bonus be x.
So maximum bonus can be 1.2X [because difference should not be more than 20%]
Assume all other employees received the same 1.2X. [They cannot receive more than this because difference between X and them will be more than 20%] Aslo, Because we need the minimum possible bonus for only 1 employee.

Implies that Total bonus = x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

is there any shortcut method to solve these problems.......

likithae wrote:

kvcpk wrote:

aarati wrote:hey can you explain me briefly ............little bit clear....

No employee is to receive a bonus more than 20% greater than the bonus received by any other employee
This means that the difference between bonuses of any two employees should not be more than 20%.

We are being asked for minimum bonus.
Our goal is to maximize the difference between bonuses.

Let the minimum bonus be x.
So maximum bonus can be 1.2X [because difference should not be more than 20%]
Assume all other employees received the same 1.2X. [They cannot receive more than this because difference between X and them will be more than 20%] Aslo, Because we need the minimum possible bonus for only 1 employee.

Implies that Total bonus = x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

is there any shortcut method to solve these problems.......

I dont see a method shorter than this.