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A certain bank has ten branches. What is the total amount of [#permalink]
15 Dec 2007, 13:28
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A certain bank has ten branches. What is the total amount of assets under management at the bank?
(1) There is an average of 400 customers per branch. When each branch’s average assets under management per customer is computed, these values are added together and this sum is divided by 10. The result is $400,000 per customer.
(2) When the total assets per branch are added up, each branch is found to manage, on average, 160 million dollars in assets.
I understand the concepts being tested, but, however, I don't agree w/ the answer. I'll let you guys take a crack at it before i elaborate any further.