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

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Manager
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Two years ago, Arthur gave each of his five children 20 perc [#permalink]  09 Feb 2010, 01:55
00:00

Difficulty:

25% (low)

Question Stats:

67% (02:26) correct 32% (00:38) wrong based on 31 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
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Intern
Joined: 10 Oct 2009
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Kudos [?]: 1 [0], given: 1

Re: Is there a faster way to do this? FDP [#permalink]  09 Feb 2010, 03:26
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
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Joined: 10 Jan 2010
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Kudos [?]: 20 [0], given: 7

Re: Is there a faster way to do this? FDP [#permalink]  09 Feb 2010, 03:38
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.
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Kudos [?]: 817 [0], given: 232

Re: Is there a faster way to do this? FDP [#permalink]  09 Feb 2010, 09:58
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
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Re: Is there a faster way to do this? FDP [#permalink]  09 Feb 2010, 10:42
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
Manager
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Re: Is there a faster way to do this? FDP [#permalink]  12 Feb 2010, 10:03
good explanation - fast enough!
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Re: Is there a faster way to do this? FDP [#permalink]  12 Feb 2010, 16:57
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, 16:57
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