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# According to a recent study on financial roles, one-third of

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Senior Manager
Joined: 18 Feb 2008
Posts: 494

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Location: Kolkata
According to a recent study on financial roles, one-third of [#permalink]

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18 Apr 2008, 06:03
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Question Stats:

100% (03:20) correct 0% (00:00) wrong based on 5 sessions

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According to a recent study on financial roles, one-third of high school seniors say that they have “significant financial responsibilities.” These responsibilities include, but are not limited to, contributing to food, shelter, or clothing for themselves or their families. At the same time, a second study demonstrates that a crisis in money management exists for high school students. According to this study, 80% of high school seniors have never taken a personal finance class even though the same percentage of seniors has opened bank accounts and one-third of these account holders has bounced a check.

Which of the following conclusions can be properly drawn from the statements above?

High schools would be wise to incorporate personal finance classes into their core curricula.

At least one-third of high school seniors work part-time jobs after school.

The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.

Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.

The majority of high school students have no financial responsibilities to their families.

got confused in the above question.....whether to attack data or %....explanation plz friends.Thanks in advance.

Kudos [?]: 130 [0], given: 66

VP
Joined: 22 Oct 2006
Posts: 1436

Kudos [?]: 196 [0], given: 12

Schools: Chicago Booth '11
Re: How to approach this Cr [#permalink]

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18 Apr 2008, 06:14
C for me.

1/3 of seniors have signifcant responsibilty. Let's let seniors = 30 10 have sig responiblity.

2nd statement says 80% of seniors opened a bank account and 1/3 of them bounced a check. so 8/10 * 1/3 * 30 = 8 bounced check senior

so 10 have sig responsibility, and 8 bounced checks therefore The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.

The others are out of scope. Closest one may be "The majority of high school students have no financial responsibilities to their families." but this leaves out adjective significant which eliminates choice.

Kudos [?]: 196 [0], given: 12

Senior Manager
Joined: 18 Feb 2008
Posts: 494

Kudos [?]: 130 [0], given: 66

Location: Kolkata
Re: How to approach this Cr [#permalink]

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18 Apr 2008, 19:20
terp u made it look so simple...thanks for the explanation.... indeed....

Kudos [?]: 130 [0], given: 66

CEO
Joined: 17 May 2007
Posts: 2947

Kudos [?]: 674 [0], given: 210

Re: How to approach this Cr [#permalink]

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18 Apr 2008, 20:19
C
I'd go Process of Elimination. Look at my comments below.
suyashjhawar wrote:
According to a recent study on financial roles, one-third of high school seniors say that they have “significant financial responsibilities.” These responsibilities include, but are not limited to, contributing to food, shelter, or clothing for themselves or their families. At the same time, a second study demonstrates that a crisis in money management exists for high school students. According to this study, 80% of high school seniors have never taken a personal finance class even though the same percentage of seniors has opened bank accounts and one-third of these account holders has bounced a check.

Which of the following conclusions can be properly drawn from the statements above?

High schools would be wise to incorporate personal finance classes into their core curricula. --> Almost always these types of options are incorrect. Too far fetched.

At least one-third of high school seniors work part-time jobs after school. --> Again there is no evidence to conclude this.

The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check. <-- analyse the number here a bit. seniors with Financial responsibilities - 1/3 (33% appx), seniors who have bounced a check -1/3 of 80% = 26% BINGO !!!!

Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities. Not necessary

The majority of high school students have no financial responsibilities to their families. Not clear from the arguement

got confused in the above question.....whether to attack data or %....explanation plz friends.Thanks in advance.

Kudos [?]: 674 [0], given: 210

SVP
Joined: 04 May 2006
Posts: 1879

Kudos [?]: 1443 [0], given: 1

Schools: CBS, Kellogg
Re: How to approach this Cr [#permalink]

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18 Apr 2008, 20:24
terp26 wrote:
C for me.

1/3 of seniors have signifcant responsibilty. Let's let seniors = 30 10 have sig responiblity.

2nd statement says 80% of seniors opened a bank account and 1/3 of them bounced a check. so 8/10 * 1/3 * 30 = 8 bounced check senior

so 10 have sig responsibility, and 8 bounced checks therefore The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.

The others are out of scope. Closest one may be "The majority of high school students have no financial responsibilities to their families." but this leaves out adjective significant which eliminates choice.

You have a nice explanation
First glance, I also choose E due to my too general reading. Thanks
_________________

Kudos [?]: 1443 [0], given: 1

Senior Manager
Joined: 18 Feb 2008
Posts: 494

Kudos [?]: 130 [0], given: 66

Location: Kolkata
Re: How to approach this Cr [#permalink]

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19 Apr 2008, 08:48
thanks all....

Kudos [?]: 130 [0], given: 66

Senior Manager
Joined: 02 Dec 2007
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Re: How to approach this Cr [#permalink]

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19 Apr 2008, 08:53
Well such CR questions are more mathematical than verbal.

Kudos [?]: 299 [0], given: 6

Senior Manager
Joined: 26 Mar 2008
Posts: 315

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Location: Washington DC
Re: How to approach this Cr [#permalink]

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21 Apr 2008, 11:33
C for me as well.
For providing conclusion types questions remember-
1> consider all premises true
2> Conclusion is something which takes account all premises not just one or two premises.

Kudos [?]: 91 [0], given: 4

Re: How to approach this Cr   [#permalink] 21 Apr 2008, 11:33
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# According to a recent study on financial roles, one-third of

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