Solve for S1

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BlindVision: Master | Next Rank: 500 Posts; Posts: 253; Joined: Fri Dec 26, 2008 8:39 pmFollowed by: 1 member; Thanked: 8 times

by BlindVision » Fri Apr 06, 2012 9:43 pm

Please show me how to get the answer for S1:

S1 = $5,850 + [10% x ($8,250 + 40% x S1)]

S1 = [spoiler]$6,953.13[/spoiler]

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Source: Beat The GMAT — Problem Solving | Fri Apr 06, 2012 9:43 pm

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Anurag@Gurome: GMAT Instructor; Posts: 3835; Joined: Fri Apr 02, 2010 10:00 pmFollowed by: 523 members; Location: Milpitas, CA; Thanked: 1854 times; GMAT Score:770

by Anurag@Gurome » Fri Apr 06, 2012 9:50 pm

BlindVision wrote:Please show me how to get the answer for S1:

S1 = $5,850 = [10% x ($8,250 + 40% x S1)]

S1 = [spoiler]$6,953.13[/spoiler]

Can you please check the equation again? S1 = $5,850 = [10% x ($8,250 + 40% x S1)]

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BlindVision: Master | Next Rank: 500 Posts; Posts: 253; Joined: Fri Dec 26, 2008 8:39 pmFollowed by: 1 member; Thanked: 8 times

by BlindVision » Fri Apr 06, 2012 9:59 pm

Hi Anurag... you are fast!:-) Correction was made right before you posted. Would appreciate your help. Thank you!

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gmatmath: Junior | Next Rank: 30 Posts; Posts: 15; Joined: Mon Mar 26, 2012 12:14 am; Thanked: 3 times

by gmatmath » Fri Apr 06, 2012 10:03 pm

S1 = 5850 + [10% x (8250 + 40% x S1)]
S1 = 5850 + [0.1 x (8250 + 0.4S1)] [I have converted 10% in decimals as 0.1 and 40% as 0.4]
S1 = 5850 + [825 + 0.04S1] [multiplying 0.1 with (8250 + 0.4S1)]
S1 = 5850 + 825 + 0.04S1
S1 - 0.04S1 = 6675
==> 0.96S1 = 6675
==> S1 = 6675/0.96
==> S1 = 6953.125, when rounded we get $6953.13.

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Anurag@Gurome: GMAT Instructor; Posts: 3835; Joined: Fri Apr 02, 2010 10:00 pmFollowed by: 523 members; Location: Milpitas, CA; Thanked: 1854 times; GMAT Score:770

by Anurag@Gurome » Fri Apr 06, 2012 10:04 pm

BlindVision wrote:Hi Anurag... you are fast!:-) Correction was made right before you posted. Would appreciate your help. Thank you!

Cool, thanks!

S1 = $5,850 + [10% x ($8,250 + 40% x S1)]
10% = 10/100 = 0.1 and 40% = 40/100 = 0.4
So, S1 = $5,850 + [0.1 x ($8,250 + 0.4 x S1)]
S1 = $5,850 + [$825 + (0.1 *0.4 x S1)]
S1 = $6,675 + 0.04S1
S1 - 0.04S1 = $6,675
S1(1 - 0.04) = $6,675
0.96 * S1 = $6,675
S1 = $6,675/0.96 = [spoiler]$6,953.125[/spoiler]

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