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The largest bonus that Felix can receive this year is equal

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The largest bonus that Felix can receive this year is equal

by BTGmoderatorLU » Tue Jan 29, 2019 2:44 pm

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

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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
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