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Gasoline Tax Revenue

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Gasoline Tax Revenue [#permalink] New post 23 Nov 2017, 11:39
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Question Stats:

60% (05:18) correct 40% (07:37) wrong based on 10 sessions
Attachment:
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Attachment:
germany.jpg
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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


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Re: Gasoline Tax Revenue [#permalink] New post 24 Nov 2017, 00:42
Hi,
Can you please provide answer to the last question?
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Re: Gasoline Tax Revenue [#permalink] New post 26 Nov 2017, 01:52
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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.

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

Attachment:
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Hope this helps.

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Re: Gasoline Tax Revenue [#permalink] New post 16 Oct 2018, 15:35
Hi
4th question
70.7% of 34 Billion equals 24 billion
So how did you compute answer E?
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Re: Gasoline Tax Revenue [#permalink] New post 18 Oct 2018, 13:06
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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.
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Re: Gasoline Tax Revenue [#permalink] New post 19 Oct 2018, 10:25
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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
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