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GRE Prep Club Team Member
Joined: 20 Feb 2017
Posts: 2506
Given Kudos: 1053
GPA: 3.39
On July 1 of last year, total employees at company E was decreased by
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23 Jul 2022, 08:21
23 Jul 2022, 08:21
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Question Stats:
45% (03:03) correct
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On July 1 of last year, total employees at company E was decreased by 10 percent. Without any change in the salaries of the remaining employees, the average (arithmetic mean) employee salary was 10 percent more after the decrease in the number of employees than before the decrease. The total of the combined salaries of all the employees at Company E after July 1 last year was what percent of that before July 1 last year?
A. 90%
B. 99%
C. 100%
D. 101%
E. 110%
A. 90%
B. 99%
C. 100%
D. 101%
E. 110%
Re: On July 1 of last year, total employees at company E was decreased by
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24 Jul 2022, 16:34
24 Jul 2022, 16:34
1
Expert Reply
# of employees before July 1 - \(x\);
# of employees after July 1 - \(0.9x\);
Average salary before July 1 - \(y\);
Average salary after July 1 - \(1.1y\);
Total salary before July 1 - \(xy\);
Total salary after July 1 - \(1.1*0.9*xy=0.99xy\) --> \(\frac{0.99xy}{xy}*100=99%\).
Answer B.
# of employees after July 1 - \(0.9x\);
Average salary before July 1 - \(y\);
Average salary after July 1 - \(1.1y\);
Total salary before July 1 - \(xy\);
Total salary after July 1 - \(1.1*0.9*xy=0.99xy\) --> \(\frac{0.99xy}{xy}*100=99%\).
Answer B.
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Joined: 10 Apr 2015
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Re: On July 1 of last year, total employees at company E was decreased by
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26 Jul 2022, 08:28
26 Jul 2022, 08:28
1
GeminiHeat wrote:
On July 1 of last year, total employees at company E was decreased by 10 percent. Without any change in the salaries of the remaining employees, the average (arithmetic mean) employee salary was 10 percent more after the decrease in the number of employees than before the decrease. The total of the combined salaries of all the employees at Company E after July 1 last year was what percent of that before July 1 last year?
A. 90%
B. 99%
C. 100%
D. 101%
E. 110%
A. 90%
B. 99%
C. 100%
D. 101%
E. 110%
Choose some nice values that satisfy the given information.
BEFORE July 1
Let's say that there were 10 employees
And let's say the average salary was $10.
TOTAL payroll = (10)($10) =$100
Number of employees decreases by 10%
Average salary increases by 10%
So....
AFTER July 1
There are 9 employees
Average salary is $11.
TOTAL payroll = (9)($11) =$99
The total of the combined salaries of all the employees at Company E after July 1 last year was what percent of that before July 1 last year?
99/100 = [spoiler]99%[/spoiler]
Answer: B
