It is currently 20 May 2019, 07:28

### 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

# Gasoline Tax Revenue

Author Message
TAGS:
Founder
Joined: 18 Apr 2015
Posts: 6559
Followers: 106

Kudos [?]: 1253 [0], given: 5951

Gasoline Tax Revenue [#permalink]  23 Nov 2017, 11:39
Expert's post
00:00

Question Stats:

57% (05:46) correct 42% (07:37) wrong based on 14 sessions
Attachment:

#GREpracticequestion In 2000 the amount of Germany's gasoline tax revenue was .jpg [ 75.55 KiB | Viewed 934 times ]
Attachment:

#GREpracticequestion In 2000 the amount of Germany's gasoline tax revenue was (2).jpg [ 54 KiB | Viewed 930 times ]
What is the median of the percent values representing gasoline tax revenue as a percent of total retail gasoline sales for the nine countries listed in the bar graph?

A. 67.6%
B. 68.0%
C. 70.0%
D. 70.7%
E. 72.7%

[Reveal] Spoiler: OA
A

Indicate $$all$$ such statements.

Based on the information given, which of the following statements must be true?

❑ In 2000 France's gasoline tax revenue as a percent of its total tax revenue was greater than 20.4 percent.
❑ In 2000 the price per gallon of gasoline was greater in Norway than it was in Spain.
❑ In 2000 Germany's gasoline tax revenue was more than 3 times its tobacco tax revenue.

[Reveal] Spoiler: OA
C

In 2000 the amount of Germany's gasoline tax revenue was approximately what percent less than the amount of its income tax revenue?

A. 10%
B. 20%
C. 30%
D. 40%
E. 50%

[Reveal] Spoiler: OA
C

If Germany's total tax revenue in 2000 was approximately $170 billion, approximately what was the amount of the total retail gasoline sales in Germany that year? A.$10 billion
B. $20 billion C.$30 billion
D. $40 billion E.$50 billion

[Reveal] Spoiler: OA
E

_________________
Intern
Joined: 14 Oct 2017
Posts: 2
Followers: 0

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

Re: Gasoline Tax Revenue [#permalink]  24 Nov 2017, 00:42
Hi,
Founder
Joined: 18 Apr 2015
Posts: 6559
Followers: 106

Kudos [?]: 1253 [1] , given: 5951

Re: Gasoline Tax Revenue [#permalink]  26 Nov 2017, 01:52
1
KUDOS
Expert's post
Explanation

A)

Simply put in a row from in an increasing order the % : 24.1, 40.0, 56.9, 62.0, 67.6, 70.0, 40.7, 72.7, 76.8. Now the median of a series of odd numbers is the middle number. hence, 67.6 %. A is the answer.

B)

This is tricky: whenever in the stimulus is said something we assume that in the question - even hidden to our look - there something. Not always is true.
1) total tax revenue: nowhere in the stem is mentioned or in the graphs. A is wrong
2) Price per gallon is not mentioned. B is wrong
3) In the second graph, the Gasoline revenue 20.4 is more than 3 times the tobacco revenue 5.6. C is true.

C)

This is very tricky. We need to read very carefully the entire stem. Gasoline Taxes are 20.4 and Income taxes are 28.6. We need to know the difference as % 28.6-20.4 = 8.6/28.6 = 30.0 %

D)

Very tricky as well

Here we need to look at both graphs: first point out that gasoline tax is 20.4 of 170 billion, which means we do have around 34 billion. Now : in the first graph gasoline sales were 70.7. This % 70.7 of 34 billion = around 50 billion. E is the answer.

Hope is clear. Ask further whether not.

Regards
_________________
Manager
Joined: 27 Feb 2017
Posts: 189
Followers: 1

Kudos [?]: 53 [0], given: 15

Re: Gasoline Tax Revenue [#permalink]  10 Sep 2018, 12:34
Hi,
For 3rd question, I did (8.2/20.4)*100. Could you please explain why did we take the income tax value instead of the gasoline tax value? I understand this has soemthing to do with the stem of the question, I just do not understand it very well.

Thanks!
Founder
Joined: 18 Apr 2015
Posts: 6559
Followers: 106

Kudos [?]: 1253 [0], given: 5951

Re: Gasoline Tax Revenue [#permalink]  12 Sep 2018, 10:09
Expert's post
We need to consider only these two sections of the pie and then calculate of the % decrease.

Attachment:

shot13.jpg [ 43.25 KiB | Viewed 2876 times ]

Hope this helps.

Regards
_________________
Intern
Joined: 22 Apr 2018
Posts: 1
Followers: 0

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

Re: Gasoline Tax Revenue [#permalink]  16 Oct 2018, 15:35
Hi
4th question
70.7% of 34 Billion equals 24 billion
So how did you compute answer E?
Manager
Joined: 27 Feb 2017
Posts: 189
Followers: 1

Kudos [?]: 53 [1] , given: 15

Re: Gasoline Tax Revenue [#permalink]  18 Oct 2018, 13:06
1
KUDOS
ptl_u wrote:
Hi
4th question
70.7% of 34 Billion equals 24 billion
So how did you compute answer E?

I am not sure how you landed on 34 billion, but here is the explanation:

1. $170 billion was total tax revenue of Germany in 2000, as given in Question4. 2. Gasoline tax revenue was 20.4% of$170 billion = 20.4% x $170bn 3. Gasoline tax revenue was 70.7% of total retail gasoline sales. So, total retail gasoline sales= ($170bn x 20.4%)/70.7%= ~\$49billion. Hence E is the closest answer.
Founder
Joined: 18 Apr 2015
Posts: 6559
Followers: 106

Kudos [?]: 1253 [0], given: 5951

Re: Gasoline Tax Revenue [#permalink]  19 Oct 2018, 10:25
Expert's post
Sorry I made a mistake writing the solution above.

It is not 34 billion * 70.7 but OVER which is close to 50%

E is the best answer. Thanks
_________________
Display posts from previous: Sort by