Percentages

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theachiever: Master | Next Rank: 500 Posts; Posts: 116; Joined: Wed Oct 03, 2012 10:44 pmFollowed by: 1 member; Thanked: 5 times

by theachiever » Fri Dec 14, 2012 6:30 am

If Bill's weekly salary increased by 16 percent, he would earn $812 per month. If instead, his weekly salary were to increase by 10 percent, how much would he earn per month?

A) $750

B) $785

C) $770

D) $786

E) $798

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Source: Beat The GMAT — Problem Solving | Fri Dec 14, 2012 6:30 am

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by Brent@GMATPrepNow » Fri Dec 14, 2012 6:42 am

theachiever wrote:If Bill's weekly salary increased by 16 percent, he would earn $812 per month. If instead, his weekly salary were to increase by 10 percent, how much would he earn per month?

A) $750

B) $785

C) $770

D) $786

E) $798

Let x = original monthly salary.

If Bill's salary increased by 16 percent, he would earn $812 per month.
So, 1.16x = 812
x = 812/1.16 = 700
So, Bill's original monthly salary is $700

If instead, his salary were to increase by 10 percent, how much would he earn per month?
1.10(700) = [spoiler]770 = C[/spoiler]

Aside: A 16% increase in weekly salary is the same as a 16% increase in monthly salary. Similarly, a 16% increase in hourly wages is the same as a 16% increase in monthly wages.

Cheers,
Brent

Brent Hanneson - Creator of GMATPrepNow.com

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GMATGuruNY: GMAT Instructor; Posts: 15539; Joined: Tue May 25, 2010 12:04 pmFollowed by: 1906 members; Location: New York, NY; Thanked: 13060 times; GMAT Score:790

by GMATGuruNY » Fri Dec 14, 2012 4:26 pm

theachiever wrote:If Bill's weekly salary increased by 16 percent, he would earn $812 per month. If instead, his weekly salary were to increase by 10 percent, how much would he earn per month?

A) $750

B) $785

C) $770

D) $786

E) $798

A monthly salary of $812 corresponds to 116% of the original salary.
We want to know what monthly salary corresponds to 110% of the original salary.
We can set up a proportion:
812/116 = x/110
7 = x/110
x = 770.

The correct answer is C.

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