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If the total payroll expense of a certain business in year Y was $84,0
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08 Dec 2021, 10:03
08 Dec 2021, 10:03
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Question Stats:
87% (00:49) correct
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If the total payroll expense of a certain business in year Y was $84,000, which was 20 percent more than in year X, what was the total payroll expense in year X ?
(A) $70,000
(B) $68,320
(C) $64,000
(D) $60,000
(E) $52,320
(A) $70,000
(B) $68,320
(C) $64,000
(D) $60,000
(E) $52,320
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Re: If the total payroll expense of a certain business in year Y was $84,0
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08 Dec 2021, 11:06
08 Dec 2021, 11:06
1
Carcass wrote:
If the total payroll expense of a certain business in year Y was $84,000, which was 20 percent more than in year X, what was the total payroll expense in year X ?
(A) $70,000
(B) $68,320
(C) $64,000
(D) $60,000
(E) $52,320
(A) $70,000
(B) $68,320
(C) $64,000
(D) $60,000
(E) $52,320
We can solve this question algebraically or by testing the answer choices.
Algebraic solution
Let x = the expenses in year X
So we can write: 1.2x = 84,000
Solve: x = 84,000/1.2 = 70,000
Answer: A
testing the answer choices
(A) $70,000
1.2(70,000) = 84,000
Done!
Answer: A
If the total payroll expense of a certain business in year Y was $84,0
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08 Dec 2021, 23:33
08 Dec 2021, 23:33
1
Concept: -
Year X
(n/d) increase
Year Y: -
(n/n+d) decrease
From year X to year y, payroll increased by 20% or 1/5th increase
So, from year Y to year X payroll must reduce by 1/6th or 16.67 %
So in terms of fractions, year X = 84000 * (1-1/6) = 84000 * (5/6) = 70000
Year X
(n/d) increase
Year Y: -
(n/n+d) decrease
From year X to year y, payroll increased by 20% or 1/5th increase
So, from year Y to year X payroll must reduce by 1/6th or 16.67 %
So in terms of fractions, year X = 84000 * (1-1/6) = 84000 * (5/6) = 70000
