challenging PS for me

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sarwan: Senior | Next Rank: 100 Posts; Posts: 32; Joined: Wed May 26, 2010 3:26 amFollowed by: 1 member

by sarwan » Sat Aug 07, 2010 11:29 pm

It is tough question for me , pls help to solve this.

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$686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?

* (A) $96,000
* (B) $97,000
* (C) $98,000
* (D) $99,000
* (E) $100,000

Ans: C => pls explain

Thanks
Sarwan

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Source: Beat The GMAT — Problem Solving | Sat Aug 07, 2010 11:29 pm

kvcpk: Legendary Member; Posts: 1893; Joined: Sun May 30, 2010 11:48 pmFollowed by: 7 members; Thanked: 215 times

by kvcpk » Sun Aug 08, 2010 12:05 am

sarwan wrote:$686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?

* (A) $96,000
* (B) $97,000
* (C) $98,000
* (D) $99,000
* (E) $100,000

Ans: C => pls explain

Thanks
Sarwan

Let the minimum bonus be x.
Next maximum bonus can be 1.2X
Assume all other employees received maximum bonus. [Because we need the minimum possible bonus for 1 employee]
Implies that x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

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muralithe1: Senior | Next Rank: 100 Posts; Posts: 56; Joined: Fri Mar 05, 2010 9:50 pm; Thanked: 1 times

by muralithe1 » Sun Aug 08, 2010 2:02 pm

Hey kvcpk,
I saw most of your problems....You rock.....

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kvcpk: Legendary Member; Posts: 1893; Joined: Sun May 30, 2010 11:48 pmFollowed by: 7 members; Thanked: 215 times

by kvcpk » Sun Aug 08, 2010 8:32 pm

muralithe1 wrote:Hey kvcpk,
I saw most of your problems....You rock.....

Thanks Buddy

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sarwan: Senior | Next Rank: 100 Posts; Posts: 32; Joined: Wed May 26, 2010 3:26 amFollowed by: 1 member

by sarwan » Sun Aug 08, 2010 8:35 pm

kvcpk wrote:
sarwan wrote:$686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?

* (A) $96,000
* (B) $97,000
* (C) $98,000
* (D) $99,000
* (E) $100,000

Ans: C => pls explain

Thanks
Sarwan
Let the minimum bonus be x.
Next maximum bonus can be 1.2X
Assume all other employees received maximum bonus. [Because we need the minimum possible bonus for 1 employee]
Implies that x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

Hi Thanks, for your help.

You people are great yaar, to solve the problem quickly. I really respect your talent.
Thanks again.

~Sarwan Gupta

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aarati: Senior | Next Rank: 100 Posts; Posts: 37; Joined: Thu Aug 05, 2010 3:15 am

by aarati » Mon Aug 09, 2010 1:59 am

kvcpk wrote:
sarwan wrote:$686,000 in bonus money is to be divided among 6 employees. No employee is to receive a bonus more than 20% greater than the bonus received by any other employee. What is the minimum possible bonus that an employee can receive?

* (A) $96,000
* (B) $97,000
* (C) $98,000
* (D) $99,000
* (E) $100,000

Ans: C => pls explain

Thanks
Sarwan
Let the minimum bonus be x.
Next maximum bonus can be 1.2X
Assume all other employees received maximum bonus. [Because we need the minimum possible bonus for 1 employee]
Implies that x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

hey can you explain me briefly ............little bit clear....

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kvcpk: Legendary Member; Posts: 1893; Joined: Sun May 30, 2010 11:48 pmFollowed by: 7 members; Thanked: 215 times

by kvcpk » Mon Aug 09, 2010 2:42 am

aarati wrote:hey can you explain me briefly ............little bit clear....

No employee is to receive a bonus more than 20% greater than the bonus received by any other employee
This means that the difference between bonuses of any two employees should not be more than 20%.

We are being asked for minimum bonus.
Our goal is to maximize the difference between bonuses.

Let the minimum bonus be x.
So maximum bonus can be 1.2X [because difference should not be more than 20%]
Assume all other employees received the same 1.2X. [They cannot receive more than this because difference between X and them will be more than 20%] Aslo, Because we need the minimum possible bonus for only 1 employee.

Implies that Total bonus = x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

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likithae: Senior | Next Rank: 100 Posts; Posts: 34; Joined: Thu Aug 05, 2010 2:39 am

by likithae » Tue Aug 10, 2010 2:32 am

kvcpk wrote:
aarati wrote:hey can you explain me briefly ............little bit clear....
No employee is to receive a bonus more than 20% greater than the bonus received by any other employee
This means that the difference between bonuses of any two employees should not be more than 20%.

We are being asked for minimum bonus.
Our goal is to maximize the difference between bonuses.

Let the minimum bonus be x.
So maximum bonus can be 1.2X [because difference should not be more than 20%]
Assume all other employees received the same 1.2X. [They cannot receive more than this because difference between X and them will be more than 20%] Aslo, Because we need the minimum possible bonus for only 1 employee.

Implies that Total bonus = x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!

is there any shortcut method to solve these problems.......

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kvcpk: Legendary Member; Posts: 1893; Joined: Sun May 30, 2010 11:48 pmFollowed by: 7 members; Thanked: 215 times

by kvcpk » Tue Aug 10, 2010 3:15 am

likithae wrote:
kvcpk wrote:
aarati wrote:hey can you explain me briefly ............little bit clear....
No employee is to receive a bonus more than 20% greater than the bonus received by any other employee
This means that the difference between bonuses of any two employees should not be more than 20%.

We are being asked for minimum bonus.
Our goal is to maximize the difference between bonuses.

Let the minimum bonus be x.
So maximum bonus can be 1.2X [because difference should not be more than 20%]
Assume all other employees received the same 1.2X. [They cannot receive more than this because difference between X and them will be more than 20%] Aslo, Because we need the minimum possible bonus for only 1 employee.

Implies that Total bonus = x + (1.2X)*5 = 686000
7x = 686000
x = 98000

Hope this helps!!
is there any shortcut method to solve these problems.......

I dont see a method shorter than this.

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