## Percent And Interest Problems

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### Percent And Interest Problems

by swerve » Thu Jun 17, 2021 7:03 am

00:00

A

B

C

D

E

## Global Stats

To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted$50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be? A.$1,600
B. $1,625 C.$1,650
D. $1,675 E.$1,700

The OA is A

Source: GMAT Prep

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### Re: Percent And Interest Problems

by [email protected] » Fri Jun 18, 2021 5:03 am
swerve wrote:
Thu Jun 17, 2021 7:03 am
To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted$50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be? A.$1,600
B. $1,625 C.$1,650
D. $1,675 E.$1,700

The OA is A

Source: GMAT Prep
Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100.... 10% of$34,500 = $3450 So, 5% of$34,500 = $1725 Rounded DOWN to the nearest$100, $1725 becomes$1700

... and subtracted $50 for each dependent that she claimed. Elena has 2 dependents So, we subtract a total of$100

$1700 -$100 = \$1600