BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Each person who attended a company (OG2016)

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Senior | Next Rank: 100 Posts
Posts: 93
Joined: Mon Apr 25, 2016 2:22 pm
Thanked: 1 times
Followed by:1 members

Each person who attended a company (OG2016)

by boomgoesthegmat » Fri May 06, 2016 12:31 pm

Timer

00:00

Your Answer

A

B

C

D

E

Global Stats

Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 47 percent were employees, what percent were stockholders who were not employees?

A) 34%
B) 38%
C) 45%
D) 53%
E) 62%

OA: D
Top
Source: — Problem Solving |
User avatar
Master | Next Rank: 500 Posts
Posts: 410
Joined: Fri Mar 13, 2015 3:36 am
Location: Worldwide
Thanked: 120 times
Followed by:8 members
GMAT Score:770

by OptimusPrep » Sat May 07, 2016 7:47 pm
boomgoesthegmat wrote:Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 47 percent were employees, what percent were stockholders who were not employees?

A) 34%
B) 38%
C) 45%
D) 53%
E) 62%

OA: D
Since we are talking in percentages here, the total will always be 0.
Stockholders = 62%
Employees = 47%

Both = (62 + 47) - 100 = 9%
Hence stockholders who were not employees = only stockholders = 62 - 9 = 53%

Correct Option: D
Top
GMAT Instructor
Posts: 2630
Joined: Wed Sep 12, 2012 3:32 pm
Location: East Bay all the way
Thanked: 625 times
Followed by:119 members
GMAT Score:780

by Matt@VeritasPrep » Thu May 12, 2016 12:24 am
62 + 47 = 109, but the company can be at most 100%.

That means that 9% of the company are BOTH, since these people are counted TWICE, and send us over 100.

Hence 9% are stockholders and employees, meaning that 62% - 9%, or 53%, are solely stockholders.
Top
User avatar
GMAT Instructor
Posts: 1462
Joined: Thu Apr 09, 2015 9:34 am
Location: New York, NY
Thanked: 39 times
Followed by:22 members

hi

by Jeff@TargetTestPrep » Thu Mar 08, 2018 5:08 pm
boomgoesthegmat wrote:Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 47 percent were employees, what percent were stockholders who were not employees?

A) 34%
B) 38%
C) 45%
D) 53%
E) 62%
We can use the equation:

Total = Stockholders + Employees - Both + Neither

100 = 62 + 47 - Both + 0

100 = 109 - Both

Both = 9

Thus, the percent of people at the meeting who were stockholders but not employees (i.e., stockholders only) is 62 - 9 = 53 percent.

Answer: D

Jeffrey Miller
Head of GMAT Instruction
[email protected]

Image

See why Target Test Prep is rated 5 out of 5 stars on BEAT the GMAT. Read our reviews
Top

GMAT/MBA Expert

User avatar
Elite Legendary Member
Posts: 10392
Joined: Sun Jun 23, 2013 6:38 pm
Location: Palo Alto, CA
Thanked: 2867 times
Followed by:511 members
GMAT Score:800

by [email protected] » Thu Mar 15, 2018 7:11 pm
Hi All,

This is essentially an Overlapping Sets question that does not have a "neither" group. As such, it can be solved in a couple of different ways. Here's how you can use standard Overlapping Sets formula to get to the correct answer:

Total = (Group 1) + (Group 2) - (Both) + (Neither)

Group 1 = % that are stockholders
Group 2 = % that are employees

100% = 62% + 47% - (Both) + 0%
100% = 109% - (Both)
Both = 9%

So 9% of the total attendees are BOTH stockholders AND employees. We're asked for the percent who were stockholders but NOT employees:

62% - 9% = 53%

Final Answer: D

GMAT assassins aren't born, they're made,
Rich
Contact Rich at [email protected]
Image
Top
Post new topic Post Reply
• Page 1 of 1