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

Redeem

Target Test Prep · GMAT

Choose how you want to prepare

Learn live with an expert or move at your own pace. Every option includes the complete TTP study system.

★★★★★5.0559 reviews
GMATLiveTeach 7 seats left
Chris Peckover
NEXT LIVE COHORT

Oct 13 to Jan 7, 2027

with Chris Peckover

Schedule
Tue, Thu · 8:00 to 10:00 PM ET
Included
40 live hours + 6 months of GMAT OnDemand
  • Live instruction and real-time questions
  • Class recordings and assigned practice
View class & enroll
Limited cohort · enrollment openTarget Test Prep
EALiveTeach 5 seats left
Logan Thompson
EXECUTIVE ASSESSMENT

Sep 6 to Dec 6, 2026

with Logan Thompson

Schedule
Sun · 9:30 AM to 12:30 PM ET
Included
40 hours of live online classes plus six months of access to the complete TTP EA OnDemand course.
  • 165+ EA Score Guarantee
  • 4,100+ Quant, Verbal, and Integrated Reasoning practice questions
  • 400+ hours of in-depth video lessons
  • 3,000+ step-by-step video solutions
View EA class & enroll
Limited cohort · enrollment openTarget Test Prep
GMATOnDemand Start anytime
SELF-PACED MASTERCLASS

Target Test Prep GMAT OnDemand

Complete access from day one. Study on your schedule.

715+ score guarantee
$0to start then $127/mo
  • Personalized study plan and analytics
  • Thousands of lessons and practice questions
Start free 5-day trial
Read 559 reviewsTarget Test Prep

Compare the format, schedule, and included access before enrolling. Prices and seat counts shown reflect the supplied offer details.

Before being simplified, the instructions for computing income tax in Country \(R\) were to add \(2\) percent of one's

Expert replies
Post new topic Post Reply
Previous Topic Next Topic
Legendary Member
Posts: 2276
Joined: Sat Oct 14, 2017 6:10 amFollowed by: 3 members
by VJesus12 » Thu Jul 22, 2021 3:33 am

Timer

00:00

Answers

A

B

C

D

E

Stats

Difficulty—

Before being simplified, the instructions for computing income tax in Country \(R\) were to add \(2\) percent of one's annual income to the average (arithmetic mean) of \(100\) units of Country \(R\)'s currency and \(1\) percent of one's annual income. Which of the following represents the simplified formula for computing the income tax in Country \(R\)'s currency, for a person in that country whose annual income is \(I?\)

A. \(50 + \dfrac{I}{200}\)

B. \(50 + \dfrac{3I}{100}\)

C. \(50 + \dfrac{I}{40}\)

D. \(100 + \dfrac{I}{50}\)

E. \(100 + \dfrac{3I}{100}\)

Answer: C

Source: GMAT Prep
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Source: — Problem Solving |

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 16207
Joined: Mon Dec 08, 2008 6:26 pmFollowed by: 1268 members
Location: Vancouver, BC
Thanked: 5254 times
GMAT Score:770

Re: Before being simplified, the instructions for computing income tax in Country \(R\) were to add \(2\) percent of one

by Brent@GMATPrepNow » Thu Jul 22, 2021 5:13 am
VJesus12 wrote: ↑
Thu Jul 22, 2021 3:33 am
 Before being simplified, the instructions for computing income tax in Country \(R\) were to add \(2\) percent of one's annual income to the average (arithmetic mean) of \(100\) units of Country \(R\)'s currency and \(1\) percent of one's annual income. Which of the following represents the simplified formula for computing the income tax in Country \(R\)'s currency, for a person in that country whose annual income is \(I?\)

A. \(50 + \dfrac{I}{200}\)

B. \(50 + \dfrac{3I}{100}\)

C. \(50 + \dfrac{I}{40}\)

D. \(100 + \dfrac{I}{50}\)

E. \(100 + \dfrac{3I}{100}\)

Answer: C

Source: GMAT Prep
2 percent of one’s annual income
If income = i, then 2% of income = (2/100)i = 0.02i

average of 100 units of country R’s currency and 1 percent of one’s annual income
1 percent of one’s annual income = (0.01)i
So, average of 100 units of country R’s currency and 1 percent of one’s annual income = (100 + 0.01i)/2 = 50 + 0.005i

So, TOTAL TAX = 0.02i + (50 + 0.005i)
= 0.025i + 50
= (25/1000)i + 50
= (1/40)i + 50
= i/40 + 50
= C

Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
Image
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Legendary Member
Posts: 2568
Joined: Sun Oct 29, 2017 2:04 pmFollowed by: 6 members

Re: Before being simplified, the instructions for computing income tax in Country \(R\) were to add \(2\) percent of one

by swerve » Thu Jul 22, 2021 11:21 am
VJesus12 wrote: ↑
Thu Jul 22, 2021 3:33 am
 Before being simplified, the instructions for computing income tax in Country \(R\) were to add \(2\) percent of one's annual income to the average (arithmetic mean) of \(100\) units of Country \(R\)'s currency and \(1\) percent of one's annual income. Which of the following represents the simplified formula for computing the income tax in Country \(R\)'s currency, for a person in that country whose annual income is \(I?\)

A. \(50 + \dfrac{I}{200}\)

B. \(50 + \dfrac{3I}{100}\)

C. \(50 + \dfrac{I}{40}\)

D. \(100 + \dfrac{I}{50}\)

E. \(100 + \dfrac{3I}{100}\)

Answer: C

Source: GMAT Prep
Annual Income = i
\(2\%\) of annual income \(= 0.02i\)
Average of \(100 R\) and \(1\%\) of annual income \(= \dfrac{100+0.01i}{2}\)

\(\dfrac{100+0.01i}{2} + 0.02i\)
\((50+0.005i) + 0.02i\)
\(50 + 0.025i\)
\(50 + \dfrac{25i}{1000}\)
\(50 + \dfrac{5i}{200}\)
\(50 + \dfrac{i}{40}\)

Therefore, C
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Post new topic Post Reply
• Page 1 of 1