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long-term employees

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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
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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
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by Nailya » Wed Apr 01, 2009 10:19 am
Thank you scoobydooby!
I forgot to take into account that the total number also decreases.
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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.
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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.
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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.
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