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Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both.

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Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both.

by Vincen » Fri May 28, 2021 7:26 am

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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. 52
B. 53
C. 54
D. 55
E. 56

Answer: B

Source: GMAT Paper Tests
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Re: Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or b

by Brent@GMATPrepNow » Sat May 29, 2021 4:05 am
Vincen wrote: ↑
Fri May 28, 2021 7:26 am
 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. 52
B. 53
C. 54
D. 55
E. 56

Answer: B

Source: GMAT Paper Tests
Let's use the Double Matrix Method.
This technique can be used for most questions featuring a population in which each member has two characteristics associated with it (aka overlapping sets questions).

Here, we have a population of attendees, and the two characteristics are:
- stockholder or not a stockholder
- employee or not an employee

Since we're not told the total number of attendees, and since we're trying to find a PERCENTAGE, let's assign a nice value to the total number of attendees
Let's say there are 100 attendees

Finally, since we're looking for the percentage of attendees who were stockholders but NOT employees, let's place a red star in that box to remind us of what we're trying to determine.
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62 percent of those who attended the meeting were stockholders
This also means that the other 38 percent are NOT stockholders
Image


47 percent were employees
This also means that the other 53 percent are NOT employees
Image

At this point, we appear to have no more information to add to our diagram.
However, we also know that each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both
This means that there were ZERO people who were neither a stockholder nor an employee.
So, we can add this to our diagram.
Image

Since the two boxes in the right-hand column must add to 53, we know that the top right box must have 53 people in it...
Image


What percent were stockholders who were not employees?
Out of 100 attendees, 53 people were stockholders but not employees
In other words, 53% of the people were stockholders but not employees

Answer: D
This question type is VERY COMMON on the GMAT, so be sure to master the technique.

To learn more about the Double Matrix Method, watch this video: https://www.gmatprepnow.com/module/gmat- ... ems?id=919

Once you’re familiar with this technique, you can attempt these additional practice questions:

Easy Problem Solving questions
- https://www.beatthegmat.com/finance-majo ... 67425.html

Medium Problem Solving questions
- https://www.gmatprepnow.com/module/gmat- ... /video/920
- https://www.beatthegmat.com/posted-speed ... 72374.html
- https://www.beatthegmat.com/motel-t271938.html
- https://www.beatthegmat.com/of-the-appli ... 70255.html
- https://www.beatthegmat.com/opening-nigh ... 64869.html
- https://www.beatthegmat.com/at-least-100 ... 74669.html
- https://www.beatthegmat.com/prblem-solving-t279424.html

Difficult Problem Solving questions
- https://www.gmatprepnow.com/module/gmat- ... /video/946
- https://www.beatthegmat.com/ratio-problem-t268339.html
- https://www.beatthegmat.com/overlapping- ... 65223.html
- https://www.beatthegmat.com/fractions-t264254.html
- https://www.beatthegmat.com/overlapping- ... 64092.html
- https://www.beatthegmat.com/mba/2011/05/ ... question-2

Easy Data Sufficiency questions
- https://www.gmatprepnow.com/module/gmat- ... /video/943
- https://www.beatthegmat.com/for-what-per ... 70596.html
- https://www.beatthegmat.com/ds-quest-t187706.html

Medium Data Sufficiency questions
- https://www.beatthegmat.com/sets-matrix-ds-t271914.html
- https://www.beatthegmat.com/each-of-peop ... 71375.html
- https://www.beatthegmat.com/a-manufacturer-t270331.html
- https://www.beatthegmat.com/in-costume-f ... 69355.html
- https://www.beatthegmat.com/mba/2011/05/ ... question-1

Difficult Data Sufficiency questions
- https://youtu.be/dsCeqF9Kbk8
- https://www.beatthegmat.com/double-set-m ... 71423.html
- https://youtu.be/dOZ9KM1m5Hs
- https://www.beatthegmat.com/sets-t269449.html
- https://www.beatthegmat.com/mba/2011/05/ ... question-3

Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
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