Peter earned 40\% more money than Albert. Albert earned 20\% less than Michael. Peter earned more than Michael by
(a)10\%
(b)12\%
(c)20\%
(d)25\%
Answer
Answer (as printed): B
Explanation
$\mathrm{P}=\frac{140}{100} \mathrm{A}=\frac{140}{100}\left(\frac{80}{100} \mathrm{M}\right)$ $$=\left(\frac{140}{100} \times \frac{80}{100} \times 100\right) \% \text { of } M=112 \% \text { of } M .$$ ∴ Peter earned 12\% more than Michael