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At Megalomania Industries, factory workers were paid $20 pe

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At Megalomania Industries, factory workers were paid $20 pe [#permalink] New post 24 May 2017, 01:50
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14% (02:22) correct 85% (01:15) wrong based on 14 sessions



At Megalomania Industries, factory workers were paid $20 per hour in 1990 and $10 per hour in 2000. The CEO of Megalomania Industries was paid $5 million per year in 1990 and $50 million per year in 2000. The percent increase in the pay of Megalomania’s CEO from 1990 to 2000 was what percent greater than the percent the decrease in the hourly pay of Megalomania’s factory workers over the same period?

A) 850%

B) 900%

C) 950%

D) 1,700%

E) 1,900%
[Reveal] Spoiler: OA

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Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink] New post 10 Oct 2017, 09:19
The percent decrease in employees salary is \(\frac{10-20}{20}*100 = 50%\), while the percent increase in the ceo salary is \(\frac{50-5}{5}*100 = 900%\).

Then, the percent increase of the ceo salary is \(\frac{900-50}{50}*100 = 1700%\) greater than the employees' percent decrease in salary
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Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink] New post 07 Feb 2019, 02:21
Quote:
Then, the percent increase of the ceo salary is 900−5050∗100=1700900−5050∗100=1700 greater than the employees' percent decrease in salary


This seems wrong, your approach is looking for the percentage change.

When we use the word "Greater" , we are looking for the ratio

@Carcass
Please help.
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Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink] New post 07 Feb 2019, 03:25
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We look for the difference between the starting value AND the end value OVER the initial value. Both.

Workers \(\frac{20-10}{20}= 0.5\)

\(\frac{50-5}{5} = 9\)

\(\frac{9-0.5}{0.5} = \frac{90-5}{5} = 17\)

D is the answer without bother yourself to multiply * 100.

Hope this helps
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Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink] New post 07 Feb 2019, 04:07
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akingba wrote:
Quote:
Then, the percent increase of the ceo salary is 900−5050∗100=1700900−5050∗100=1700 greater than the employees' percent decrease in salary


This seems wrong, your approach is looking for the percentage change.

When we use the word "Greater" , we are looking for the ratio

@Carcass
Please help.



The question asks us
. The percent increasein the pay of Megalomania’s CEO from 1990 to 2000 was what percent greater than the percent the decrease in the hourly pay of Megalomania’s factory workers over the same period

so percent increase--- how much % greater-- than percent decrease..

The portion after than is in the BASE, so 50 is in the base....
Percent increase and percent decrease are positive, so 100*(900-50)/50..

Also Carcass has explained the method above
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Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink] New post 12 Feb 2019, 19:45
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Carcass wrote:



At Megalomania Industries, factory workers were paid $20 per hour in 1990 and $10 per hour in 2000. The CEO of Megalomania Industries was paid $5 million per year in 1990 and $50 million per year in 2000. The percent increase in the pay of Megalomania’s CEO from 1990 to 2000 was what percent greater than the percent the decrease in the hourly pay of Megalomania’s factory workers over the same period?

A) 850%

B) 900%

C) 950%

D) 1,700%

E) 1,900%


First, let’s calculate the percent decrease for the workers, using the formula (New - Old)/Old x 100:

(10 - 20)/20 x 100 = 50% decrease

Next we calculate the percent increase for the CEO:

(50,000,000 - 5,000,000)/5,000,000 x 100

45,000,000/5,000,000 x 100

9 x 100 = 900% increase

Thus:

(900 - 50)/50 x 100

850/50 x 100 = 1700%

Answer: D
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Re: At Megalomania Industries, factory workers were paid $20 pe   [#permalink] 12 Feb 2019, 19:45
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