• EMPOWERgmat Slider
    1 Hour Free
    BEAT THE GMAT EXCLUSIVE

    Available with Beat the GMAT members only code

    MORE DETAILS
    EMPOWERgmat Slider
  • e-gmat Exclusive Offer
    Get 300+ Practice Questions
    25 Video lessons and 6 Webinars for FREE

    Available with Beat the GMAT members only code

    MORE DETAILS
    e-gmat Exclusive Offer
  • Magoosh
    Magoosh
    Study with Magoosh GMAT prep

    Available with Beat the GMAT members only code

    MORE DETAILS
    Magoosh
  • PrepScholar GMAT
    5 Day FREE Trial
    Study Smarter, Not Harder

    Available with Beat the GMAT members only code

    MORE DETAILS
    PrepScholar GMAT
  • The Princeton Review
    FREE GMAT Exam
    Know how you'd score today for $0

    Available with Beat the GMAT members only code

    MORE DETAILS
    The Princeton Review
  • Veritas Prep
    Free Veritas GMAT Class
    Experience Lesson 1 Live Free

    Available with Beat the GMAT members only code

    MORE DETAILS
    Veritas Prep
  • Kaplan Test Prep
    Free Practice Test & Review
    How would you score if you took the GMAT

    Available with Beat the GMAT members only code

    MORE DETAILS
    Kaplan Test Prep
  • Varsity Tutors
    Award-winning private GMAT tutoring
    Register now and save up to $200

    Available with Beat the GMAT members only code

    MORE DETAILS
    Varsity Tutors
  • Economist Test Prep
    Free Trial & Practice Exam
    BEAT THE GMAT EXCLUSIVE

    Available with Beat the GMAT members only code

    MORE DETAILS
    Economist Test Prep
  • Target Test Prep
    5-Day Free Trial
    5-day free, full-access trial TTP Quant

    Available with Beat the GMAT members only code

    MORE DETAILS
    Target Test Prep

Each person who attended a company (OG2016)

This topic has 3 expert replies and 1 member reply
boomgoesthegmat Senior | Next Rank: 100 Posts Default Avatar
Joined
25 Apr 2016
Posted:
93 messages
Upvotes:
1

Each person who attended a company (OG2016)

Post Fri May 06, 2016 12:31 pm

Timer

00:00

Your Answer

A

B

C

D

E

Global Stats

Difficult



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

  • +1 Upvote Post
  • Quote
  • Flag
OptimusPrep Master | Next Rank: 500 Posts
Joined
13 Mar 2015
Posted:
410 messages
Followed by:
7 members
Upvotes:
120
GMAT Score:
770
Post 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

  • +1 Upvote Post
  • Quote
  • Flag

GMAT/MBA Expert

Matt@VeritasPrep GMAT Instructor Default Avatar
Joined
12 Sep 2012
Posted:
2637 messages
Followed by:
114 members
Upvotes:
625
Target GMAT Score:
V51
GMAT Score:
780
Post 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.

  • +1 Upvote Post
  • Quote
  • Flag
Enroll in a Veritas Prep GMAT class completely for FREE. Wondering if a GMAT course is right for you? Attend the first class session of an actual GMAT course, either in-person or live online, and see for yourself why so many students choose to work with Veritas Prep. Find a class now!
Post 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

  • +1 Upvote Post
  • Quote
  • Flag

GMAT/MBA Expert

Post 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 Rich.C@empowergmat.com

  • +1 Upvote Post
  • Quote
  • Flag

Top First Responders*

1 GMATGuruNY 103 first replies
2 Brent@GMATPrepNow 43 first replies
3 Rich.C@EMPOWERgma... 34 first replies
4 Jay@ManhattanReview 29 first replies
5 Scott@TargetTestPrep 11 first replies
* Only counts replies to topics started in last 30 days
See More Top Beat The GMAT Members

Most Active Experts

1 image description GMATGuruNY

The Princeton Review Teacher

152 posts
2 image description Brent@GMATPrepNow

GMAT Prep Now Teacher

139 posts
3 image description Scott@TargetTestPrep

Target Test Prep

104 posts
4 image description Max@Math Revolution

Math Revolution

86 posts
5 image description Rich.C@EMPOWERgma...

EMPOWERgmat

86 posts
See More Top Beat The GMAT Experts