USA Today reported that the total compensation, salary, bonus, housing allowance, and so forth for the 1993 graduates of Stanford's business school was $129,500, an increase of 10% over the previous year. What was the total compensation package for Stanford's business school graduates in 1992? Round your answer to the nearest dollar.
A) $117,727
B) $116,550
C) $143,889
D) $142,450
E) $128,500

Question

Quizplus · Accepted Answer

The total compensation for 1993 was $129,500, which was a 10% increase over the previous year. To find the total compensation for 1992, divide the 1993 compensation by 1.10 (100% + 10% = 110% or 1.10). $129,500 / 1.10 = $117,727 (rounded to the nearest dollar).

USA Today Reported That the Total Compensation, Salary, Bonus, Housing