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Last year $48,000 of a certain store's profit was shared by its 2

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Last year $48,000 of a certain store's profit was shared by its 2

by BTGModeratorVI » Wed May 13, 2020 11:01 am

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Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ?

A. $12,000
B. $9,000
C. $6,000
D. $4,000
E. $3,000

Answer: B
Source: Official guide
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Re: Last year $48,000 of a certain store's profit was shared by its 2

by Jay@ManhattanReview » Thu May 14, 2020 10:52 pm
BTGModeratorVI wrote: ↑
Wed May 13, 2020 11:01 am
 Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ?

A. $12,000
B. $9,000
C. $6,000
D. $4,000
E. $3,000

Answer: B
Source: Official guide
From the ratio perspective, say each employee receives 1 unit of profit; thus, each owner receives 3 units.

So, the total profit = 2*3 + 10*1 = 16 units

Out of 16 units, each owner's share = 3, or 3/16 part

So, out of $48,000, each owner receives 3/16*48,000 = $9,000

The correct answer: B

Hope this helps!

-Jay
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Re: Last year $48,000 of a certain store's profit was shared by its 2

by Brent@GMATPrepNow » Sat May 16, 2020 6:23 am
BTGModeratorVI wrote: ↑
Wed May 13, 2020 11:01 am
 Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ?

A. $12,000
B. $9,000
C. $6,000
D. $4,000
E. $3,000

Answer: B
Source: Official guide
Each owner received 3 times as much as each employee
Let E = the amount (in dollars) that ONE employee received
So, 3E = the amount (in dollars) that ONE owner received

Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees.
In other words: 3E + 3E + E + E + E + E + E + E + E + E + E + E = 48,000
Simplify: 16E = 48,000
So, E = 48,000/16
= 3,000

So, each EMPLOYEE received $3000, which means each OWNER received $9000
Answer: B

Cheers,
Brent
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Re: Last year $48,000 of a certain store's profit was shared by its 2

by Brent@GMATPrepNow » Sat May 16, 2020 6:24 am
BTGModeratorVI wrote: ↑
Wed May 13, 2020 11:01 am
 Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ?

A. $12,000
B. $9,000
C. $6,000
D. $4,000
E. $3,000

Answer: B
Source: Official guide
Although I believe it's best to use one variable to solve this question, we can also use two variables
Let's see how that solution would look.

Let x = the amount (in dollars) that ONE employee received
Let y = the amount (in dollars) that ONE owner received

Each owner received 3 times as much as each employee
So, we can write: y = 3x

Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees.
So, the total amount two owners received = y + y = 2y
The total amount 10 employees received = 10x
So, we can write: 10x + 2y = 48,000

At this point, we have the following system of linear equations:
y = 3x
10x + 2y = 48,000

When we solve this system (I'll leave it to you to do this), we get x = 3000 and y = 9000
So, each each OWNER received $9000

Answer: B

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Brent
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Re: Last year $48,000 of a certain store's profit was shared by its 2

by Scott@TargetTestPrep » Sat May 16, 2020 8:43 am
BTGModeratorVI wrote: ↑
Wed May 13, 2020 11:01 am
 Last year $48,000 of a certain store's profit was shared by its 2 owners and their 10 employees. Each of the 2 owners received 3 times as much as each of their 10 employees. How much did each owner receive from the $48,000 ?

A. $12,000
B. $9,000
C. $6,000
D. $4,000
E. $3,000

Answer: B
We can let the employee share = n and thus the owner share = 3n, and we have:

48,000 = 2(3n) + 10n

48,000 = 16n

3,000 = n

So each owner received 3 x 3,000 = 9,000 dollars.

Answer: B

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Re: Last year $48,000 of a certain store's profit was shared by its 2

by deloitte247 » Sun May 17, 2020 3:07 am
Total people involved = 10 employees + 2 owners
Let the amount received by employee = x
Therefore, owners received = 3 times an employee = 3x

Since $48,000 was shared among the 12 people;
10(x) + 2(3x) = 48,000
10x + 6x = 48,000
$$\frac{16x}{6}=\frac{48000}{16}$$
$$X=3000$$
i.e each employee received $3000 and each owner received 3x = 3 * 3000 = 9000

Answer = B
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