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# At Megalomania Industries, factory workers were paid $20 pe  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Founder Joined: 18 Apr 2015 Posts: 7791 Followers: 145 Kudos [?]: 1597 [0], given: 7061 At Megalomania Industries, factory workers were paid$20 pe [#permalink]  24 May 2017, 01:50
Expert's post
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Question Stats:

25% (01:41) correct 74% (01:20) wrong based on 35 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] 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 Intern Joined: 14 Jan 2019 Posts: 31 Followers: 0 Kudos [?]: 9 [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
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Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink] 07 Feb 2019, 03:25 2 This post received KUDOS Expert's post 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 _________________ Supreme Moderator Joined: 01 Nov 2017 Posts: 370 Followers: 5 Kudos [?]: 123 [0], given: 4 Re: At Megalomania Industries, factory workers were paid$20 pe [#permalink]  07 Feb 2019, 04:07
Expert's post
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

. 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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Some useful Theory.
1. Arithmetic and Geometric progressions : https://greprepclub.com/forum/progressions-arithmetic-geometric-and-harmonic-11574.html#p27048
2. Effect of Arithmetic Operations on fraction : https://greprepclub.com/forum/effects-of-arithmetic-operations-on-fractions-11573.html?sid=d570445335a783891cd4d48a17db9825
3. Remainders : https://greprepclub.com/forum/remainders-what-you-should-know-11524.html
4. Number properties : https://greprepclub.com/forum/number-property-all-you-require-11518.html
5. Absolute Modulus and Inequalities : https://greprepclub.com/forum/absolute-modulus-a-better-understanding-11281.html

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Re: At Megalomania Industries, factory workers were paid $20 pe [#permalink] 12 Feb 2019, 19:45 1 This post received KUDOS Expert's post 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 _________________ # Scott Woodbury-Stewart Founder and CEO Scott@TargetTestPrep.com 22 Reviews 5-star 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
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