Find all School-related info fast with the new School-Specific MBA Forum
Learn more about the recent changes... close

It is currently 25 May 2013, 17:20
Customize  |  Hide

Search
Register
New posts
Unanswered

Two years ago, Arthur gave each of his five children 20 perc

  Question banks Downloads My Bookmarks Reviews  
  Oldest Best Reply
Search for:
 
Print view
First unread post
Author Message
TAGS:
Manager
Manager
Joined: 04 Dec 2008
Posts: 115
Followers: 1

Kudos [?]: 9 [0], given: 2

Two years ago, Arthur gave each of his five children 20 perc [#permalink] New post 09 Feb 2010, 02:55
00:00

Question Stats:

63% (02:39) correct 36% (00:45) wrong based on 1 sessions
Two years ago, Arthur gave each of his five children 20 percent of his fortune to invest in any way they saw fit. In the first year, three of the children, Alice, Bob, and Carol, each earned a profit of 50 percent on their investments, while two of the children, Dave and Errol, lost 40 percent on their investments. In the second year, Alice and Bob each earned a 10 percent profit, Carol lost 60 percent, Dave earned 25 percent in profit, and Errol lost all the money he had remaining. What percentage of Arthur's fortune currently remains?

A) 93%
B) 97%
C) 100%
D) 107%
E) 120%

OPEN DISCUSSION OF THIS QUESTION IS HERE: two-years-ago-arthur-gave-each-of-his-five-children-20-perc-153125.html
[Reveal] Spoiler: OA
Kaplan GMAT Prep Discount CodesKnewton GMAT Discount CodesGMAT Pill GMAT Discount Codes
Intern
Intern
Joined: 10 Oct 2009
Posts: 25
Followers: 0

Kudos [?]: 1 [0], given: 1

Re: Is there a faster way to do this? FDP [#permalink] New post 09 Feb 2010, 04:26
A

assume Arthur had $100 and gave each of his children $20, then two years

A=20(1+0.5)(1+0.1)=33
B=20(1+0.5)(1+0.1)=33
C=20(1+0.5)(1-0.6)=12
D=20(1-0.4)(1+0.25)=33
E=0

Arthur's current money=A+B+C+D+E=93
Manager
Manager
Joined: 10 Jan 2010
Posts: 194
Location: Germany
Concentration: Strategy, General Management
Schools: IE '15 (M)
GMAT 1: Q V
GPA: 3
WE: Consulting (Telecommunications)
Followers: 2

Kudos [?]: 15 [0], given: 7

GMAT Tests User
Re: Is there a faster way to do this? FDP [#permalink] New post 09 Feb 2010, 04:38
Why do you look for a faster way? How did you solve the Q?

The way aniec posted is pretty fast.

Did the same approach and solved the Question (Answer A) in less than 1 minute.
CEO
CEO
User avatar
Status: Nothing comes easy: neither do I want.
Joined: 12 Oct 2009
Posts: 2761
Location: Malaysia
Concentration: Marketing, Entrepreneurship
Schools: Anderson '15 (D), INSEAD Jan '14
GMAT 1: 670 Q49 V31
GMAT 2: 710 Q50 V35
Followers: 124

Kudos [?]: 637 [0], given: 222

GMAT Tests User Reviews Badge
Re: Is there a faster way to do this? FDP [#permalink] New post 09 Feb 2010, 10:58
aniec wrote:
A

assume Arthur had $100 and gave each of his children $20, then two years

A=20(1+0.5)(1+0.1)=33
B=20(1+0.5)(1+0.1)=33
C=20(1+0.5)(1-0.6)=12
D=20(1-0.4)(1+0.25)=33
E=0

Arthur's current money=A+B+C+D+E=93


D should b 15 and ans is A
_________________

Fight for your dreams :For all those who fear from Verbal- lets give it a fight

Money Saved is the Money Earned :)

Jo Bole So Nihaal , Sat Shri Akaal

:thanks Support GMAT Club by putting a GMAT Club badge on your blog/Facebook :thanks

Find out what's new at GMAT Club - latest features and updates

Gmat test review :
670-to-710-a-long-journey-without-destination-still-happy-141642.html

Intern
Intern
Joined: 10 Oct 2009
Posts: 25
Followers: 0

Kudos [?]: 1 [0], given: 1

Re: Is there a faster way to do this? FDP [#permalink] New post 09 Feb 2010, 11:42
gurpreetsingh wrote:
aniec wrote:
A

assume Arthur had $100 and gave each of his children $20, then two years

A=20(1+0.5)(1+0.1)=33
B=20(1+0.5)(1+0.1)=33
C=20(1+0.5)(1-0.6)=12
D=20(1-0.4)(1+0.25)=33
E=0

Arthur's current money=A+B+C+D+E=93


D should b 15 and ans is A



Oh yes! sorry for this stupid mistake :oops:
Manager
Manager
Joined: 10 Feb 2010
Posts: 198
Followers: 2

Kudos [?]: 23 [0], given: 6

GMAT Tests User
Re: Is there a faster way to do this? FDP [#permalink] New post 12 Feb 2010, 11:03
good explanation - fast enough!
Manager
Manager
User avatar
Status: Getting ready for the internship summer
Joined: 07 Jun 2009
Posts: 51
Location: Rochester, NY
Schools: Simon
WE 1: JPM - Treasury
Followers: 0

Kudos [?]: 11 [0], given: 23

Re: Is there a faster way to do this? FDP [#permalink] New post 12 Feb 2010, 17:57
I agree that you shouldn't need any trick, just power through the numbers as fast as possible and it shouldn't take more than a minute provided you give yourself an easy starting number to work with.

I gave each kid $100 to start:

A = 150 + 1.1(150) = 165
B = 150 + 1.1(150) = 165
C = 150 + 0.4(150) = 60
D = 60 + 1.25(60) = 75
E = 0

465/500 = 93/100
Re: Is there a faster way to do this? FDP   [#permalink] 12 Feb 2010, 17:57
    Similar topics Author Replies Last post
Similar
Topics:
 Popular new posts 1 Twelve years ago and again five years ago, there were joemama142000 22 24 Apr 2006, 06:31
Popular new posts Twelve years ago and again five years ago, there were prasannar 16 06 Apr 2008, 05:44
New posts 1 EXPERTS_POSTS_IN_THIS_TOPIC In the last two years, each of Jeremy’s six children grew in metallicafan 1 12 Apr 2012, 16:05
New posts 1 Two years ago, the government of Runagia increased by 20 maybeam 2 26 Jul 2012, 00:31
New posts EXPERTS_POSTS_IN_THIS_TOPIC Two years ago, Arthur gave each of his five children 20 perc manishuol 2 21 May 2013, 00:07
Display posts from previous: Sort by

Two years ago, Arthur gave each of his five children 20 perc

  Question banks Downloads My Bookmarks Reviews  
Print view
First unread post

Moderators: Bunuel, VeritasPrepKarishma, IanStewart

Search for:


cron

GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.

Main navigation

GMAT Resources

Partners

MBA Resources

www.gmac.com|www.mba.com