A survey of employers found that during 93 employment costs rose 3.5 %. where employment costs consist of salary costs and fringement costs. If salary costs rose 3 % and fringe benefit cots rose 5.5% during 1993, the fringe benefit costs represented what % of employment costs as the beginning of 93.
a. 16.5
b. 20
c. 35
d. 55
e. 65
The correct answer is B and the problem is solved by creating two simulatenous equations
E = S + F
1.03 S + 1.055 F = 1.035 (S+F)
Solve the relationship between S and F and plugging in that into E = S + F equation. Then solve for ratio of F/E.
is there an easier way to solve this problem?
Another problem that was like this:
A certain company that sells only cars and trucks reported that revenues from car sales in 97 were down 11% from 96 and revenue from truck sales in 97 were up 7 % from 96. if total revenues from car sales and truck sales in 97 were up 1% from 96, what is the ratio of revenue from car sales in 96 to revenue from truck sales in 96?
a. 1:2
b. 4:5
c. 1:1
d. 3:2
e. 5:3
Correct Answer is A
a. 16.5
b. 20
c. 35
d. 55
e. 65
The correct answer is B and the problem is solved by creating two simulatenous equations
E = S + F
1.03 S + 1.055 F = 1.035 (S+F)
Solve the relationship between S and F and plugging in that into E = S + F equation. Then solve for ratio of F/E.
is there an easier way to solve this problem?
Another problem that was like this:
A certain company that sells only cars and trucks reported that revenues from car sales in 97 were down 11% from 96 and revenue from truck sales in 97 were up 7 % from 96. if total revenues from car sales and truck sales in 97 were up 1% from 96, what is the ratio of revenue from car sales in 96 to revenue from truck sales in 96?
a. 1:2
b. 4:5
c. 1:1
d. 3:2
e. 5:3
Correct Answer is A
