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If an associate-degree holder earning 20 percent less than the median
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19 Feb 2021, 03:31
19 Feb 2021, 03:31
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If an associate-degree holder earning 20 percent less than the median for that degree went on to get a bachelor’s degree and earn 25 percent more than the median for that degree, which of the following is closest to the change in the degree holder’s annual income?
$28,200
$30,500
$31,500
$34,300
$49,500
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
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If an associate-degree holder earning 20 percent less than the median
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19 Feb 2021, 05:47
19 Feb 2021, 05:47
Carcass wrote:
If an associate-degree holder earning 20 percent less than the median for that degree went on to get a bachelor’s degree and earn 25 percent more than the median for that degree, which of the following is closest to the change in the degree holder’s annual income?
$28,200
$30,500
$31,500
$34,300
$49,500
Median weekly Salary with Associate-degree = $757
Associate-degree holder actual earning = \((0.80)($757) = $605.6 \)
Median weekly Salary with Bachelor-degree = $1012
Bachelor-degree holder actual earning = \((1.25)($1012) = $1265 \)
Change in Median weekly salary = \($1265 - $605.6 = $659.4\)
Don't forget to multiply by 52, to get the Median Annual Salary;
i.e. \((52)($659.4) = $34288.8\)
Approx. $34300
Hence, option D
Re: If an associate-degree holder earning 20 percent less than the median
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06 Jun 2021, 20:33
06 Jun 2021, 20:33
KarunMendiratta wrote:
Carcass wrote:
If an associate-degree holder earning 20 percent less than the median for that degree went on to get a bachelor’s degree and earn 25 percent more than the median for that degree, which of the following is closest to the change in the degree holder’s annual income?
$28,200
$30,500
$31,500
$34,300
$49,500
Median weekly Salary with Associate-degree = $757
Associate-degree holder actual earning = \((0.80)($757) = $605.6 \)
Median weekly Salary with Bachelor-degree = $1012
Bachelor-degree holder actual earning = \((1.25)($1012) = $1265 \)
Change in Median weekly salary = \($1265 - $605.6 = $659.4\)
Don't forget to multiply by 52, to get the Median Annual Salary;
i.e. \((52)($659.4) = $34288.8\)
Approx. $34300
Hence, option D
Hey,
i didn't understand about 52 logic can you please explain ?
