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Last year Company X spent 15% of its revenues on employee health care
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01 Oct 2021, 09:25
01 Oct 2021, 09:25
Expert Reply
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Question Stats:
62% (01:24) correct
37% (01:28) wrong based on 24 sessions
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Last year Company X spent 15% of its revenues on employee health care expenses. This year Company X’s revenues were 20% greater, and it spent 10% of its revenue on employee health care expenses. The amount Company X spent on health care expenses last year is what percent greater than it spent this year?
(A) 15
(B) 20
(C) 25
(D) 33 1/3
(E) 50
(A) 15
(B) 20
(C) 25
(D) 33 1/3
(E) 50
Re: Last year Company X spent 15% of its revenues on employee health care
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01 Oct 2021, 19:36
01 Oct 2021, 19:36
1
Let's say last year company \(X\)'s revenue \(= 100\)
Spending on healthcare \(= 15\)
This year, revenue increased by \(20\)% \(= 120\)
Spending on health care \(= 10\)% \(= 12\)
%age \(= \frac{15}{12} = 1.25\) so \(25\)%
Answer C
Spending on healthcare \(= 15\)
This year, revenue increased by \(20\)% \(= 120\)
Spending on health care \(= 10\)% \(= 12\)
%age \(= \frac{15}{12} = 1.25\) so \(25\)%
Answer C
Re: Last year Company X spent 15% of its revenues on employee health care
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27 Oct 2023, 12:03
27 Oct 2023, 12:03
rx10 wrote:
Let's say last year company \(X\)'s revenue \(= 100\)
Spending on healthcare \(= 15\)
This year, revenue increased by \(20\)% \(= 120\)
Spending on health care \(= 10\)% \(= 12\)
%age \(= \frac{15}{12} = 1.25\) so \(25\)%
Answer C
Spending on healthcare \(= 15\)
This year, revenue increased by \(20\)% \(= 120\)
Spending on health care \(= 10\)% \(= 12\)
%age \(= \frac{15}{12} = 1.25\) so \(25\)%
Answer C
But the question say "percent greater" and not "how many times greater", so why are we using this method?
Carcass -- please help!
