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Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and

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Manager
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Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and [#permalink]

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New post 06 Oct 2008, 09:00
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Question Stats:

71% (02:36) correct 29% (01:53) wrong based on 143 sessions

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Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and 2/5 of the remaining funds have 4-star ratings. If the remaining 300 funds on the list have 3-star ratings, how many funds are on the list?

A. 500
B. 750
C. 1,000
D. 1,200
E. 1,500
[Reveal] Spoiler: OA
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Re: Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and [#permalink]

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New post 06 Oct 2008, 10:35
albany09 wrote:
Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and 2/5 of the remaining funds have 4-star ratings. If the remaining 300 funds on the list have 3-star ratings, how many funds are on the list?

A. 500
B. 750
C. 1,000
D. 1,200
E. 1,500


B

Fraction of 5- and 4-star funds: 1/3 + (2/5)*(2/3) = 5/15 + 4/15 = 9/15
Fraction of 3-star funds = 1 - 9/15 = 6/15

(6/15)*Total = 300
Total = 750
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Re: Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and [#permalink]

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New post 06 Oct 2008, 11:20
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albany09 wrote:
Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and 2/5 of the remaining funds have 4-star ratings. If the remaining 300 funds on the list have 3-star ratings, how many funds are on the list?

A. 500
B. 750
C. 1,000
D. 1,200
E. 1,500


Assume total X funds.

5-star = X/3
4-star = 2/5 * (X - X/3) = 2/5*(2X/3) = 4X/15
3-star = 300

5-star + 4-star + 3-star = total funds = X

X/3 + 4X/15 + 300 = X ---------- (1)
5X + 4X + 4500 = 15X ---------- (1) x 15
6X = 4500
X = 750

B is the answer.
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Re: Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and [#permalink]

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New post 21 Jul 2015, 23:15
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Re: Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and [#permalink]

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New post 13 Aug 2016, 10:04
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and   [#permalink] 13 Aug 2016, 10:04
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