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Bank with 10 branches

Author Message
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Director
Status: Preparing for the 4th time -:(
Joined: 25 Jun 2011
Posts: 547
Location: United Kingdom
GMAT Date: 06-22-2012
GPA: 2.9
WE: Information Technology (Consulting)
Followers: 10

Kudos [?]: 149 [0], given: 215

Bank with 10 branches [#permalink]  18 Nov 2011, 13:00
00:00

Difficulty:

5% (low)

Question Stats:

50% (01:33) correct 50% (00:28) wrong based on 4 sessions
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) The bank has a total of 4,000 customers. When the total assets per branch are added up, each branch is found to manage, on average, 160 million dollars in assets.

As the OA is not provided, for me its D. Can someone please have a look and let me know if you think otherwise?
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Best Regards,
E.

MGMAT 1 --> 530
MGMAT 2--> 640
MGMAT 3 ---> 610

Manager
Joined: 29 Oct 2011
Posts: 189
Concentration: General Management, Technology
Schools: Sloan '16 (D)
GMAT 1: 760 Q49 V44
GPA: 3.76
Followers: 5

Kudos [?]: 64 [0], given: 19

Re: Bank with 10 branches [#permalink]  19 Nov 2011, 11:11
I believe D is correct.

Total of 10 branches.

(1) 400 customers per branch times \$400k per customer times 10 branches gives you total assets. SUFFICIENT.

(2). \$160mil per branch times 10 branches gives total assets. SUFFICIENT.
Re: Bank with 10 branches   [#permalink] 19 Nov 2011, 11:11
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