GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 20 Oct 2018, 02:18

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

All assets in Karina's investment portfolio are divided between an IRA

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 50003
All assets in Karina's investment portfolio are divided between an IRA  [#permalink]

Show Tags

New post 19 Jun 2018, 23:49
00:00
A
B
C
D
E

Difficulty:

  75% (hard)

Question Stats:

54% (01:36) correct 46% (01:54) wrong based on 121 sessions

HideShow timer Statistics

All assets in Karina's investment portfolio are divided between an IRA, 401k, and two separate taxable accounts. No two accounts have the same amount of money and all four have at least some money in them. If each account has a whole-number percent of Karina's money, what is the minimum percent of Karina's money that could be in the account with the largest balance?

A. 25
B. 26
C. 27
D. 28
E. 29

_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

examPAL Representative
User avatar
G
Joined: 07 Dec 2017
Posts: 721
Re: All assets in Karina's investment portfolio are divided between an IRA  [#permalink]

Show Tags

New post 20 Jun 2018, 00:13
2
Bunuel wrote:
All assets in Karina's investment portfolio are divided between an IRA, 401k, and two separate taxable accounts. No two accounts have the same amount of money and all four have at least some money in them. If each account has a whole-number percent of Karina's money, what is the minimum percent of Karina's money that could be in the account with the largest balance?

A. 25
B. 26
C. 27
D. 28
E. 29


If we're not sure where to start, we'll look to the answers.
This is an Alternative approach.

Since we're looking for the minimum, we'll start with the smallest possible answer: 25.
If the minimum (in the largest account) was 25, then since none of the accounts have the same value, they must have less than 25 each. At most, they'll be 24, 23 and 22. But then their sum is 25 + 24 + 23 +22 which is less than 100. Impossible!
Similarly, if (B) were correct then the sum of the percentages would be at most 26 + 25 + 24 + 23 = 98 < 100. Also impossible.
(C) works out: 27 + 26 + 25 + 22 = 100 meaning that we can divide all the money between the 4 accounts.

(C) is our answer.
_________________

Image
Sign up for 7-day free trial
Image

I am a CR Expert - Ask Me ANYTHING about CR
I am a DS Expert - Ask Me ANYTHING about DS


Watch free GMAT tutorials in Math, Verbal, IR, and AWA.

GMAT test takers: Watch now the GMAC interview with the people who write the GMAT test!
We discussed the chances of improving a GMAT score; how important the first questions on the test are; what to do if you don’t have enough time to complete a whole section; and more.

You can watch all the action from the interview here.

Senior PS Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3187
Location: India
GPA: 3.12
Premium Member CAT Tests
All assets in Karina's investment portfolio are divided between an IRA  [#permalink]

Show Tags

New post 20 Jun 2018, 00:21
2
1
Bunuel wrote:
All assets in Karina's investment portfolio are divided between an IRA, 401k, and two separate taxable accounts. No two accounts have the same amount of money and all four have at least some money in them. If each account has a whole-number percent of Karina's money, what is the minimum percent of Karina's money that could be in the account with the largest balance?

A. 25
B. 26
C. 27
D. 28
E. 29


Since there are 4 accounts in which all Karina' investments are divided &
we need a minimum percentage of the account with the largest balance,
the other 3 accounts must have the highest balance.

Let x be the minimum percentage of the account with the largest balance
\(x - 3 + x - 2 + x - 1 + x > 100\) -> \(4x - 6 > 100\) -> \(4x > 104\) -> \(x > 26\)

Therefore, Option C(27) is the minimum percent of Karina's money in the largest account.
_________________

You've got what it takes, but it will take everything you've got

CEO
CEO
User avatar
D
Joined: 12 Sep 2015
Posts: 3020
Location: Canada
Re: All assets in Karina's investment portfolio are divided between an IRA  [#permalink]

Show Tags

New post 07 Oct 2018, 08:52
Top Contributor
Bunuel wrote:
All assets in Karina's investment portfolio are divided between an IRA, 401k, and two separate taxable accounts. No two accounts have the same amount of money and all four have at least some money in them. If each account has a whole-number percent of Karina's money, what is the minimum percent of Karina's money that could be in the account with the largest balance?

A. 25
B. 26
C. 27
D. 28
E. 29


Let's say Karina's entire portfolio is worth $100 altogether.
So, we want to divide this $100 into four integer amounts: w, x, y, z, where w < x < y < z, and we want to minimize the value of z
In order to MINIMIZE the value of the z, we must MAXIMIZE the values of w, x, and y.

Now let's test the answer choices

A. 25
In other words, z = 25
So, we have: w < x < y < 25 and all 4 values must add to 100
So, the greatest possible value of y is 24, the greatest possible value of x is 23, and the greatest possible value of w is 22
25 + 24 + 23 + 22 = 94.
No good. We want the 4 values to add to 100. ELIMINATE A

B. 26
In other words, z = 26
So, we have: w < x < y < 26 and all 4 values must add to 100
So, the greatest possible values of w, x and y are 23, 24, and 25 respectively.
26 + 25 + 24 + 23 = 98.
Unfortunately the 4 values do NOT add to 100, so we can ELIMINATE B

C. 27
In other words, z = 27
So, the greatest possible values of w, x and y are 24, 25, and 26 respectively.
27 + 26 + 25 + 24 = 102.
In this case the sum is greater than 100, but that's okay. We can just make one of the values smaller.
For example, the 4 values add to 100 when w, x, y and z equal 22, 25, 26, and 27 respectively

Answer: C

Cheers,
Brent
_________________

Brent Hanneson – GMATPrepNow.com
Image
Sign up for our free Question of the Day emails

Intern
Intern
avatar
B
Joined: 19 Aug 2016
Posts: 2
Location: United States
GMAT 1: 670 Q28 V56
GPA: 3.5
Re: All assets in Karina's investment portfolio are divided between an IRA  [#permalink]

Show Tags

New post 07 Oct 2018, 13:11
DavidTutorexamPAL wrote:
Bunuel wrote:
All assets in Karina's investment portfolio are divided between an IRA, 401k, and two separate taxable accounts. No two accounts have the same amount of money and all four have at least some money in them. If each account has a whole-number percent of Karina's money, what is the minimum percent of Karina's money that could be in the account with the largest balance?

A. 25
B. 26
C. 27
D. 28
E. 29


If we're not sure where to start, we'll look to the answers.
This is an Alternative approach.

Since we're looking for the minimum, we'll start with the smallest possible answer: 25.
If the minimum (in the largest account) was 25, then since none of the accounts have the same value, they must have less than 25 each. At most, they'll be 24, 23 and 22. But then their sum is 25 + 24 + 23 +22 which is less than 100. Impossible!
Similarly, if (B) were correct then the sum of the percentages would be at most 26 + 25 + 24 + 23 = 98 < 100. Also impossible.
(C) works out: 27 + 26 + 25 + 22 = 100 meaning that we can divide all the money between the 4 accounts.

(C) is our answer.


Why cannot the answer be (e) 29%? Couldn't you do 29, 25, 24, 22?
Intern
Intern
avatar
B
Joined: 15 Jul 2016
Posts: 9
Location: India
Schools: IIMC
GMAT 1: 560 Q46 V21
GPA: 2.67
WE: Operations (Manufacturing)
Reviews Badge CAT Tests
Re: All assets in Karina's investment portfolio are divided between an IRA  [#permalink]

Show Tags

New post 09 Oct 2018, 00:14
we can try like

25, 25, 25, 25 equal division
23, 24,26,27 min largest division.

adding and substracting 1 from the middle value.
adding and substracting 2 from extreme values.

regards
examPAL Representative
User avatar
G
Joined: 07 Dec 2017
Posts: 721
Re: All assets in Karina's investment portfolio are divided between an IRA  [#permalink]

Show Tags

New post 09 Oct 2018, 00:25
Simmones wrote:
DavidTutorexamPAL wrote:
Bunuel wrote:
All assets in Karina's investment portfolio are divided between an IRA, 401k, and two separate taxable accounts. No two accounts have the same amount of money and all four have at least some money in them. If each account has a whole-number percent of Karina's money, what is the minimum percent of Karina's money that could be in the account with the largest balance?

A. 25
B. 26
C. 27
D. 28
E. 29


If we're not sure where to start, we'll look to the answers.
This is an Alternative approach.

Since we're looking for the minimum, we'll start with the smallest possible answer: 25.
If the minimum (in the largest account) was 25, then since none of the accounts have the same value, they must have less than 25 each. At most, they'll be 24, 23 and 22. But then their sum is 25 + 24 + 23 +22 which is less than 100. Impossible!
Similarly, if (B) were correct then the sum of the percentages would be at most 26 + 25 + 24 + 23 = 98 < 100. Also impossible.
(C) works out: 27 + 26 + 25 + 22 = 100 meaning that we can divide all the money between the 4 accounts.

(C) is our answer.


Why cannot the answer be (e) 29%? Couldn't you do 29, 25, 24, 22?


Hey Simmones
(E) can work, but we are asked what is the minimum amount - therefore, for (E) to be the answer, all the other answers (A)-(D) must not work. but since (C) does work, it is the answer, and (E) isn't.
Hope this helps!
_________________

Image
Sign up for 7-day free trial
Image

I am a CR Expert - Ask Me ANYTHING about CR
I am a DS Expert - Ask Me ANYTHING about DS


Watch free GMAT tutorials in Math, Verbal, IR, and AWA.

GMAT test takers: Watch now the GMAC interview with the people who write the GMAT test!
We discussed the chances of improving a GMAT score; how important the first questions on the test are; what to do if you don’t have enough time to complete a whole section; and more.

You can watch all the action from the interview here.

GMAT Club Bot
Re: All assets in Karina's investment portfolio are divided between an IRA &nbs [#permalink] 09 Oct 2018, 00:25
Display posts from previous: Sort by

All assets in Karina's investment portfolio are divided between an IRA

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


Copyright

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

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

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®.