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

Redeem

long-term employees

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
User avatar
Senior | Next Rank: 100 Posts
Posts: 91
Joined: Sat Feb 21, 2009 3:46 pm
Location: New York City
Thanked: 2 times

long-term employees

by Nailya » Wed Apr 01, 2009 9:43 am
Of the 800 employees of Company X, 70 percent have been with the company for at least ten years. If y of these long term members were to retire and no other employee changes were to occur, what value of y would reduce the percent of long-term employees in the company to 60%?

This looks like an easy one, however, I am frustrated because my answer does not match the OA! OA is 200.
My answer 80
GMATPrep1 - 550
GMAT Prep2 - 590
MGMAT1 - 620
MGMAT2 - 640
MGMAT3 - 660
MGMAT4 - 680
MGMAT5 - 690
GMATPrep1 - 690
MGMAT6 - 720
Top
Source: — Problem Solving |
Legendary Member
Posts: 1035
Joined: Wed Aug 27, 2008 10:56 pm
Thanked: 104 times
Followed by:1 members

by scoobydooby » Wed Apr 01, 2009 10:02 am
70%*800=560 >10 years or Long term employees

let y out of 560 retire, so the resulting number of LT employees:
560-y and the resulting total number of employees: 800-y

(560-y)/(800-y)=60/100
=>2800-5y=2400-3y
=>2y=400
=>y=200
Top
User avatar
Senior | Next Rank: 100 Posts
Posts: 91
Joined: Sat Feb 21, 2009 3:46 pm
Location: New York City
Thanked: 2 times

by Nailya » Wed Apr 01, 2009 10:19 am
Thank you scoobydooby!
I forgot to take into account that the total number also decreases.
Top
Legendary Member
Posts: 621
Joined: Wed Apr 09, 2008 7:13 pm
Thanked: 33 times
Followed by:4 members

by vittalgmat » Thu Apr 02, 2009 7:05 pm
Here is another way:

70% of 800 = 560.
What if the percent of longterm employees was 60%.
ie longterm emp = 60% of 800 = 360.

So the amount of longtimers that need to retire is 560 - 360 = 200.
Top
User avatar
Senior | Next Rank: 100 Posts
Posts: 91
Joined: Sat Feb 21, 2009 3:46 pm
Location: New York City
Thanked: 2 times

by Nailya » Thu Apr 02, 2009 9:33 pm
vittalgmat wrote:Here is another way:

70% of 800 = 560.
What if the percent of longterm employees was 60%.
ie longterm emp = 60% of 800 = 360.

So the amount of longtimers that need to retire is 560 - 360 = 200.
but 60% of 800 is 480. that's how I tried to solve it too, but the answer was 560-480=80, not 200. we need to take into consideration that the total number decreases too.
Top
Legendary Member
Posts: 621
Joined: Wed Apr 09, 2008 7:13 pm
Thanked: 33 times
Followed by:4 members

by vittalgmat » Thu Apr 02, 2009 9:53 pm
Nailya wrote:
vittalgmat wrote:Here is another way:

70% of 800 = 560.
What if the percent of longterm employees was 60%.
ie longterm emp = 60% of 800 = 360.

So the amount of longtimers that need to retire is 560 - 360 = 200.
but 60% of 800 is 480. that's how I tried to solve it too, but the answer was 560-480=80, not 200. we need to take into consideration that the total number decreases too.
OOps!!! my bad. my approach is wrong..

thanks for pointing out.
Top
Post new topic Post Reply
• Page 1 of 1