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At megalomania Industries, factory workers were paid $20 per hourin 1990 and $10 per hour in 2000. The CEO of...

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At megalomania Industries, factory workers were paid $20 per hourin 1990 and $10 per hour in 2000. The CEO of...

by BTGmoderatorLU » Sat May 30, 2020 1:46 am

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Source: Princeton Review

At Megalomania Industries, factory workers were paid $20 per hour in 1990 and $10 per hour in 2000. The CEO of Megalomania Industries was paid 5 million per year in 1990 and $50 million per year in 2000. The percent increase in the pay of Megalomania's CEO from 1990 to 2000 was what percent greater than the percent the decrease in the hourly pay of Megalomania's factory workers over the same period?

A. 850%
B. 900%
C. 950%
D. 1,700%
E. 1,900%

The OA is D
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Re: At megalomania Industries, factory workers were paid $20 per hourin 1990 and $10 per hour in 2000. The CEO of...

by ezmodest » Sat May 30, 2020 9:17 am
This is my approach:

Worker's Hourly:
1990: $20
2000: $10
% Change = 10/20 -1 = -50%
However we only care about the absolute change = 50%

CEO Salary:
1990: $5mm
2000: $50mm
% Change = 50/5 - 1 = 900%

Finally: % grater CEO % change than Worker's % change:
900/50 - 1 = 1700%

Answer: D
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