Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 46 percent were employees, what percent were stockholders who were not employees?  Choose the correct choice.
A) 34%	B) 38%	C) 54%	D) 53%	E) 62%
Let M represent the number of meeting attendees. Then, since 62% of M or 0.62M   were stockholders and 46% of M or 0.47M were employees, it follows that 0.62M +   0.46M = 1.08M were either stockholders, employees, or both. Since 1.08M exceeds   M, the excess 1.08M − M = 0.08M must be the number of attendees who were both   stockholders and employees, leaving the rest 0.62M − 0.08M = 0.54M, or 54%, of   the meeting attendees to be stockholders but not employees.   The correct answer is 54%.
<result>C</result>
Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both. If 62 percent of those who attended the meeting were stockholders and 46 percent were employees, what percent were stockholders who were not employees?