\(C=\begin{cases} 0.10s, \; \text{if} \; s\le 60,000,\\ 0.10s +0.4(s-60,000), \; \text{if} \; s> 60,000. \end{cases}\)
The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a salary of \(s\) dollars. How many more dollars is the contribution for a participant with a salary of \(\$70,000\) than for a participant with a salary of \(\$50,000 ?\)
A. \(\$800\)
B. \(\$1,400\)
C. \(\$2,000\)
D. \(\$2,400\)
E. \(\$2,800\)
Answer: D
Source: Official Guide
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The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a
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gmatter2012
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Please correct the question for case s>60,000 itsVJesus12 wrote: ↑Mon Sep 21, 2020 7:04 am\(C=\begin{cases} 0.10s, \; \text{if} \; s\le 60,000,\\ 0.10s +0.4(s-60,000), \; \text{if} \; s> 60,000. \end{cases}\)
The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a salary of \(s\) dollars. How many more dollars is the contribution for a participant with a salary of \(\$70,000\) than for a participant with a salary of \(\$50,000 ?\)
A. \(\$800\)
B. \(\$1,400\)
C. \(\$2,000\)
D. \(\$2,400\)
E. \(\$2,800\)
Answer: D
Source: Official Guide
.04 and NOT .4
So we have to use 0.10s + .04 (s - 60,000) for the second case.
No wonder why I got stuck!gmatter2012 wrote: ↑Mon Sep 21, 2020 9:24 pmPlease correct the question for case s>60,000 itsVJesus12 wrote: ↑Mon Sep 21, 2020 7:04 am\(C=\begin{cases} 0.10s, \; \text{if} \; s\le 60,000,\\ 0.10s +0.4(s-60,000), \; \text{if} \; s> 60,000. \end{cases}\)
The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a salary of \(s\) dollars. How many more dollars is the contribution for a participant with a salary of \(\$70,000\) than for a participant with a salary of \(\$50,000 ?\)
A. \(\$800\)
B. \(\$1,400\)
C. \(\$2,000\)
D. \(\$2,400\)
E. \(\$2,800\)
Answer: D
Source: Official Guide
.04 and NOT .4
So we have to use 0.10s + .04 (s - 60,000) for the second case.
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Solution:VJesus12 wrote: ↑Mon Sep 21, 2020 7:04 am\(C=\begin{cases} 0.10s, \; \text{if} \; s\le 60,000,\\ 0.10s +0.4(s-60,000), \; \text{if} \; s> 60,000. \end{cases}\)
The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a salary of \(s\) dollars. How many more dollars is the contribution for a participant with a salary of \(\$70,000\) than for a participant with a salary of \(\$50,000 ?\)
A. \(\$800\)
B. \(\$1,400\)
C. \(\$2,000\)
D. \(\$2,400\)
E. \(\$2,800\)
Answer: D
Source: Official Guide
(Note: There is a typo. The number 0.4 should be 0.04.)
If a participant has a salary of s = $50,000, then C = 0.1 x 50,000 = $5,000.
If a participant has a salary of s = $70,000, then C = 0.1 x 70,000 + 0.04(70,000 - 60,000) = 7,000 + 400 = $7,400.
Therefore, the difference is 7,400 - 5,000 = $2,400.
Answer: D
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