Jul 13 10:00 PM PDT  11:00 PM PDT Take 20% off the plan of your choice, now through midnight on 7/13 Jul 14 08:00 PM PDT  09:00 PM PDT A better GRE prep experience. We believe GRE prep should be real education that prepares you not just for the test, but for the challenges you’ll face as you earn your graduate degree and advance your career. Jul 15 08:00 PM PDT  09:00 PM PDT Regardless of whether you choose to study with Greenlight Test Prep, I believe you'll benefit from my many free resources. Jul 22 07:30 AM PDT  08:30 AM PDT Learn the basics of quadratics to demystify one of the most commonly feared concepts on the GRE and GMAT.
Author 
Message 
TAGS:


Founder
Joined: 18 Apr 2015
Posts: 12093
Followers: 256
Kudos [?]:
3016
[0], given: 11281

At Megalomania Industries, factory workers were paid $20 pe [#permalink]
24 May 2017, 01:50
Question Stats:
38% (01:56) correct
61% (01:24) wrong based on 63 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%
_________________
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.




Director
Joined: 03 Sep 2017
Posts: 518
Followers: 2
Kudos [?]:
420
[0], given: 66

Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink]
10 Oct 2017, 09:19
The percent decrease in employees salary is \(\frac{1020}{20}*100 = 50%\), while the percent increase in the ceo salary is \(\frac{505}{5}*100 = 900%\).
Then, the percent increase of the ceo salary is \(\frac{90050}{50}*100 = 1700%\) greater than the employees' percent decrease in salary



Intern
Joined: 14 Jan 2019
Posts: 31
Followers: 0
Kudos [?]:
11
[0], given: 5

Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink]
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.



Founder
Joined: 18 Apr 2015
Posts: 12093
Followers: 256
Kudos [?]:
3016
[2]
, given: 11281

Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink]
07 Feb 2019, 03:25
2
This post received KUDOS
We look for the difference between the starting value AND the end value OVER the initial value. Both. Workers \(\frac{2010}{20}= 0.5\) \(\frac{505}{5} = 9\) \(\frac{90.5}{0.5} = \frac{905}{5} = 17\) D is the answer without bother yourself to multiply * 100. Hope this helps
_________________
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.



Supreme Moderator
Joined: 01 Nov 2017
Posts: 371
Followers: 10
Kudos [?]:
166
[0], given: 4

Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink]
07 Feb 2019, 04:07
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*(90050)/50.. Also Carcass has explained the method above
_________________
Some useful Theory. 1. Arithmetic and Geometric progressions : https://greprepclub.com/forum/progressionsarithmeticgeometricandharmonic11574.html#p27048 2. Effect of Arithmetic Operations on fraction : https://greprepclub.com/forum/effectsofarithmeticoperationsonfractions11573.html?sid=d570445335a783891cd4d48a17db9825 3. Remainders : https://greprepclub.com/forum/remainderswhatyoushouldknow11524.html 4. Number properties : https://greprepclub.com/forum/numberpropertyallyourequire11518.html 5. Absolute Modulus and Inequalities : https://greprepclub.com/forum/absolutemodulusabetterunderstanding11281.html



Target Test Prep Representative
Joined: 12 Sep 2018
Posts: 208
Followers: 11
Kudos [?]:
134
[1]
, given: 0

Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink]
12 Feb 2019, 19:45
1
This post received KUDOS
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
_________________
5star rated online GRE quant self study course See why Target Test Prep is the top rated GRE quant course on GRE Prep Club. Read Our Reviews




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





