It is currently 24 Oct 2020, 12:51

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Approximately what percent of the total average

Author Message
TAGS:
Founder
Joined: 18 Apr 2015
Posts: 13671
Followers: 305

Kudos [?]: 3525 [0], given: 12608

Approximately what percent of the total average [#permalink]  29 Dec 2016, 02:41
Expert's post
00:00

Question Stats:

46% (02:44) correct 53% (02:22) wrong based on 63 sessions
Attachment:

#GREpracticequestion Approximately what percent of the total average annual income.jpg [ 271.27 KiB | Viewed 3033 times ]

Approximately what percent of the total average annual income (before taxes) of retirees was spent on meats, poultry, and seafood (consumed at home)?

(A) 7%
(B) 10%
(C) 20%
(D) 23%
(E) 31%
[Reveal] Spoiler: OA

_________________

Do you want all the GRE Prep Club resources at a glance (sort of ) ?? Look at GRE Prep Club Official LinkTree page

Do you want all the GRE Prep Club FREE resources in one spot ?? Look at Free GRE Materials - Where to get it!! (2020]

Do you want to know the GRE score in the Top 25 BS in 7 continents ?? Look at here The GRE average score at Top 25 Business Schools 2020 Ed.

Need Practice 20 Free GRE Quant Tests available for free with 20 Kudos

GRE Prep Club Members of the Month: Each member of the month will get three months free access of GRE Prep Club tests.

Intern
Joined: 25 Dec 2016
Posts: 21
Followers: 0

Kudos [?]: 6 [0], given: 9

Re: Approximately what percent of the total average [#permalink]  22 Jan 2017, 23:54
Please explain the solution to this question.
Thank You
Manager
Joined: 01 Apr 2017
Posts: 61
WE: Analyst (Computer Software)
Followers: 0

Kudos [?]: 78 [1] , given: 27

Re: Approximately what percent of the total average [#permalink]  24 Apr 2017, 11:48
1
KUDOS
If you see the above graph,the percent of annual income for food away from home is 3% and the total percent of annual income for retirees is 40% .

Therefore, to calculate percent of the average annual income (before taxes) of retirees was spent on meats, poultry, and seafood (away from home) only
=3/40
Multiply both numerator and denominator with 2.5, we get 7.5 percent out of 100 percent.Approx answer is 7%.
Director
Joined: 03 Sep 2017
Posts: 518
Followers: 2

Kudos [?]: 435 [0], given: 66

Re: Approximately what percent of the total average [#permalink]  22 Sep 2017, 07:18
Carcass wrote:

Approximately what percent of the total average annual income (before taxes) of retirees was spent on meats, poultry, and seafood (consumed at home)?

(A) 7%
(B) 10%
(C) 20%
(D) 23%
(E) 31%

If what we are looking for is the percentage of meats, poultry and seafood consumed AT home, how can it be answer A?

PankajPatel wrote:
If you see the above graph,the percent of annual income for food away from home is 3% and the total percent of annual income for retirees is 40% .

Therefore, to calculate percent of the average annual income (before taxes) of retirees was spent on meats, poultry, and seafood (away from home) only =3/40
Multiply both numerator and denominator with 2.5, we get 7.5 percent out of 100 percent.Approx answer is 7%.

This explanation too is wrong since it is focused on food AWAY from home.

Is there an error in the question or in the OA?
Intern
Joined: 10 Sep 2018
Posts: 20
Followers: 0

Kudos [?]: 26 [0], given: 9

Re: Approximately what percent of the total average [#permalink]  10 Sep 2018, 04:31
is the answer supposed to be B? since 23% of \$19.83 is \$4.5609, the total income is \$49.575 (if \$19.83 is total expenditure which is about 40% of the total income). then \$4.5609 is about 9.1% of \$49.575.

i'm probably wrong though. cause the answer that is given is A.
Founder
Joined: 18 Apr 2015
Posts: 13671
Followers: 305

Kudos [?]: 3525 [5] , given: 12608

Re: Approximately what percent of the total average [#permalink]  10 Sep 2018, 09:08
5
KUDOS
Expert's post
This is a tough question and the explanation above is correc t but badly formulated.

We have to use the chart and the graph, both.

1) Starting from the chart we do have that retirees spend 23% of meats, poultry, and seafood (consumed at home) but this 3 categories are included in a vast category of household expenditures which, as it turns out, comprises of: food at home. food away from home, personal cares items and housekeeping.

2) Now look at the chart: the bar at the outermost right have the categories above plus gasoline and other fuels which must NOT be counted in the ballpark. The total sum is about 41% minus these two categories we do have about 29 %.

3) finally, 23% of the chart over 29 % of the graph we do have: 0.23*0.29=0.667 which is about 7%

Regards
_________________

Do you want all the GRE Prep Club resources at a glance (sort of ) ?? Look at GRE Prep Club Official LinkTree page

Do you want all the GRE Prep Club FREE resources in one spot ?? Look at Free GRE Materials - Where to get it!! (2020]

Do you want to know the GRE score in the Top 25 BS in 7 continents ?? Look at here The GRE average score at Top 25 Business Schools 2020 Ed.

Need Practice 20 Free GRE Quant Tests available for free with 20 Kudos

GRE Prep Club Members of the Month: Each member of the month will get three months free access of GRE Prep Club tests.

Intern
Joined: 27 Oct 2018
Posts: 49
Followers: 0

Kudos [?]: 20 [1] , given: 27

Re: Approximately what percent of the total average [#permalink]  03 Nov 2018, 08:31
1
KUDOS
Do we not need to change weekly expenditure to yearly/annual anywhere in the procedure?
Director
Joined: 09 Nov 2018
Posts: 505
Followers: 0

Kudos [?]: 56 [0], given: 1

Re: Approximately what percent of the total average [#permalink]  16 Nov 2018, 19:02
Any one please make it clear?
Founder
Joined: 18 Apr 2015
Posts: 13671
Followers: 305

Kudos [?]: 3525 [0], given: 12608

Re: Approximately what percent of the total average [#permalink]  18 Nov 2018, 12:19
Expert's post
Attachment:

shot9.jpg [ 126.08 KiB | Viewed 3318 times ]

I do think the caption at the top the chart "average weekly" is deceptive.

There is any clue in the question that leads us to a possible conversion.

I do think, looking closer to the chart, the relationship is the percent of food and household expenditures. This category comprises also food at home which is for retirees 23%. (black arrow)

This 23% could be expressed as \$19.83 spent on average weekly.

However, there is not a clear relationship that they spent \$19.83 and this is equal to 23% on food weekly. The chart just says that the have food at home which is 23% of the overall food. They spent a certain amount weekly.

Hope now is more clear.
_________________

Do you want all the GRE Prep Club resources at a glance (sort of ) ?? Look at GRE Prep Club Official LinkTree page

Do you want all the GRE Prep Club FREE resources in one spot ?? Look at Free GRE Materials - Where to get it!! (2020]

Do you want to know the GRE score in the Top 25 BS in 7 continents ?? Look at here The GRE average score at Top 25 Business Schools 2020 Ed.

Need Practice 20 Free GRE Quant Tests available for free with 20 Kudos

GRE Prep Club Members of the Month: Each member of the month will get three months free access of GRE Prep Club tests.

Intern
Joined: 10 Aug 2019
Posts: 16
Followers: 0

Kudos [?]: 1 [0], given: 12

Re: Approximately what percent of the total average [#permalink]  24 Sep 2019, 21:50
How did you get 29% ? Could you please explain?
Founder
Joined: 18 Apr 2015
Posts: 13671
Followers: 305

Kudos [?]: 3525 [0], given: 12608

Re: Approximately what percent of the total average [#permalink]  25 Sep 2019, 00:34
Expert's post
See my explanation above https://greprepclub.com/forum/approxima ... tml#p24583

whet 29% comes from.
Regards
_________________

Do you want all the GRE Prep Club resources at a glance (sort of ) ?? Look at GRE Prep Club Official LinkTree page

Do you want all the GRE Prep Club FREE resources in one spot ?? Look at Free GRE Materials - Where to get it!! (2020]

Do you want to know the GRE score in the Top 25 BS in 7 continents ?? Look at here The GRE average score at Top 25 Business Schools 2020 Ed.

Need Practice 20 Free GRE Quant Tests available for free with 20 Kudos

GRE Prep Club Members of the Month: Each member of the month will get three months free access of GRE Prep Club tests.

Intern
Joined: 27 Jan 2019
Posts: 29
Followers: 0

Kudos [?]: 27 [1] , given: 3

Re: Approximately what percent of the total average [#permalink]  21 Oct 2019, 00:30
1
KUDOS
We are given percent of average annual income spent on food & household and on some other stuff . Whatever is not in the second table is included in the expenditure on other stuff. The first table tells us that around 29% of annual income is spent on household and 11 percent on other stuff. Second table gives us weakly average expenditures on household. Take the average and multiply by 52 to get the annual average expenditures on household. Now when we get average annual household expenditures, table one tells us these annual household expenditures make up only 29% of the total average income spent. To get total average annual income, divide 19.83*52 by 0.29 . Now we have the total average annual income.

retirees spent 0.23 of 19.83*52 annually on average on poultry and meat at home. divide that by total annual income to get the answer.

0.23*52*19.83/ (19.83*52)/0.29 which is around almost 7 %.
Intern
Joined: 17 Sep 2020
Posts: 1
Followers: 0

Kudos [?]: 1 [1] , given: 0

Re: Approximately what percent of the total average [#permalink]  17 Sep 2020, 05:12
1
KUDOS
From bar chart, Food at home (before taxes) = 19.5%
From table, Total Food at home = 23% + 29%+ 14% = 66%
So, Meat, Poultry and Seafood = 23/66

And % consumed of avg. total annul income = (19.5/100) * (23/66) = 6.8% = 7%
Intern
Joined: 25 May 2020
Posts: 7
Followers: 0

Kudos [?]: 2 [0], given: 9

Re: Approximately what percent of the total average [#permalink]  15 Oct 2020, 22:39
Carcass wrote:
This is a tough question and the explanation above is correc t but badly formulated.

We have to use the chart and the graph, both.

1) Starting from the chart we do have that retirees spend 23% of meats, poultry, and seafood (consumed at home) but this 3 categories are included in a vast category of household expenditures which, as it turns out, comprises of: food at home. food away from home, personal cares items and housekeeping.

2) Now look at the chart: the bar at the outermost right have the categories above plus gasoline and other fuels which must NOT be counted in the ballpark. The total sum is about 41% minus these two categories we do have about 29 %.

3) finally, 23% of the chart over 29 % of the graph we do have: 0.23*0.29=0.667 which is about 7%

Regards

Thanks well explained
Re: Approximately what percent of the total average   [#permalink] 15 Oct 2020, 22:39
Display posts from previous: Sort by