The largest bonus that Felix can receive this year is equal

This topic has expert replies
Moderator
Posts: 2205
Joined: Sun Oct 15, 2017 1:50 pm
Followed by:6 members

Timer

00:00

Your Answer

A

B

C

D

E

Global Stats

Source: Veritas Prep

The largest bonus that Felix can receive this year is equal to 20% of his annual salary. The smallest bonus that he can receive this year is 30% of his largest possible bonus. What is Felix's annual salary?

1. The smallest possible bonus that Felix can receive this year is $4800.00.
2. The difference between the largest and smallest bonus that Felix can receive this year is $11,200.00.

The OA is D

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 3008
Joined: Mon Aug 22, 2016 6:19 am
Location: Grand Central / New York
Thanked: 470 times
Followed by:34 members

by Jay@ManhattanReview » Tue Jan 29, 2019 9:37 pm

Timer

00:00

Your Answer

A

B

C

D

E

Global Stats

BTGmoderatorLU wrote:Source: Veritas Prep

The largest bonus that Felix can receive this year is equal to 20% of his annual salary. The smallest bonus that he can receive this year is 30% of his largest possible bonus. What is Felix's annual salary?

1. The smallest possible bonus that Felix can receive this year is $4800.00.
2. The difference between the largest and smallest bonus that Felix can receive this year is $11,200.00.

The OA is D
Say Felix's annual salary is $S.

Thus,

The largest bonus that Felix can receive = 20% of S = S/5;
The smallest bonus that Felix can receive = 30% of 20% of S = 3S/50

We have to determine that value of S.

1. The smallest possible bonus that Felix can receive this year is $4800.00.

=> 3S/50 = 4800

=> S = unique value. Sufficient

2. The difference between the largest and smallest bonus that Felix can receive this year is $11,200.00.

=> S/5 - 3S/50 = 11,200

=> S = unique value. Sufficient

The correct answer: D

Hope this helps!

-Jay
_________________
Manhattan Review GMAT Prep

Locations: GMAT Classes San Francisco | GMAT Tutoring Boston | GRE Prep Philadelphia | TOEFL Prep Classes DC | and many more...

Schedule your free consultation with an experienced GMAT Prep Advisor! Click here.