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 45 percent were employees, what percent were stockholders who were not employees? Choose the correct option:
A) 34%
B) 38%
C) 45%
D) 53%
E) 55%
Let M represent the number of meeting attendees. Then, since 62% of M or 0.62M   were stockholders and 47% of M or 0.45M were employees, it follows that 0.62M +   0.45M = 1.07M were either stockholders, employees, or both. Since 1.07M exceeds   M, the excess 1.07M − M = 0.07M must be the number of attendees who were both   stockholders and employees, leaving the rest 0.62M − 0.07M = 0.55M, or 55%, of   the meeting attendees to be stockholders but not employees.   The correct answer is 55%.
<result>E</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 45 percent were employees, what percent were stockholders who were not employees?