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Quant PS question, Please help

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Junior | Next Rank: 30 Posts
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by Nirupam04 » Fri Jul 05, 2013 3:34 am
Question
Before being simplified, the Instructions for computing income tax in country R were to add 2 percent of ones annual income to the average of 100 units of Country R currency and 1 percent of ones annual income . which of the following represents the simplified formula for computing the Income tax, in country R currency, for a person in that country whose annual income is I

1>50 +I/200
2>50+3I/100
3>50+I/40 (correct answer)
4>100+I/50
5>100+3I/100

Please help to solve the question
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by [email protected] » Sun Jul 07, 2013 4:24 pm
Hi Nirupam04,

This was my response to your original post in the Quant Subpage. If you didn't read the original response, then here it is...

------------------------------

Hi Nirupam04,

There are a couple of ways to answer this question:

1) Algebra translation
2) Strategy (the EMPOWERgmat version is known as TEST IT).

If you're going to do the algebra, then you have to translate the math formula and do lots of math:

Tax = .02(I) + (100 unites + .01I)/2
Tax = .02I + 50 + .005I
Tax = 50 + .025I
Tax = 50 + I/40

Using TEST IT, let's say I = 100...

So 2% of 100 + the average of (100 and 1% of 100)
= 2 + 101/2
= 2 + 50.5
= 52.5

Now plug I = 100 into the answers. Only answer C matches!

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