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Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved

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Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved  [#permalink]

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New post Updated on: 04 Jan 2013, 03:01
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  45% (medium)

Question Stats:

71% (01:22) correct 29% (01:24) wrong based on 218 sessions

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Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved 8 percent more than in 1989, and together he and Jane saved a total of $5,000. Approximately what percent less did Jane save in 1990 than in 1989?

A. 8%
B. 25%
C. 41%
D. 59%
E. 70%

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Originally posted by carcass on 03 Jan 2013, 14:49.
Last edited by Bunuel on 04 Jan 2013, 03:01, edited 1 time in total.
Edited the question and moved to PS forum.
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Re: Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved  [#permalink]

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New post 03 Jan 2013, 15:17
1
1990

Dick saved = $ 3240
Jane saved = $ 1760 (jane saved $1240 less than she did the prior year)

Jane saved approximately $1240/$3000 (close to 41%) less in 1990

Answer: C
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Re: Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved  [#permalink]

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New post 03 Jan 2013, 15:41
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Re: Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved  [#permalink]

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New post 07 Jan 2013, 19:49
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carcass wrote:
Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved 8 percent more than in 1989, and together he and Jane saved a total of $5,000. Approximately what percent less did Jane save in 1990 than in 1989?

A. 8%
B. 25%
C. 41%
D. 59%
E. 70%


I did in usual way.. pretty lengthy one...

Dick -> increased by 8% of 3000 = 240 , so Dick share in 1990 will be 3240.
Jane --> decreased by x% of 3000, so Jane share in 1990 will be \(3000(1- x/100 )\)

\(3240 + 3000 (1- x/100 ) = 5000\)

\(1- x/100 = 166 / 300\)

x= 41% (approx)
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Re: Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved  [#permalink]

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New post 23 Jan 2013, 05:09
1
given jane 1989 - 3000
dick 1989 - 3000

1990 = D + J = 5000

dick 8 percent more = 3000 * 8/100 = 240 >> 3000 + 240 = 3240

jane = 5000-3240 = 1760

to find the decrease new - old/old * 100

1760 - 3000 / 3000 * 100

1240 / 3000 * 100 = 124/3 = 41% approx

Answer Choice C
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Re: Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved  [#permalink]

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New post 10 Oct 2018, 10:22
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carcass wrote:
Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved 8 percent more than in 1989, and together he and Jane saved a total of $5,000. Approximately what percent less did Jane save in 1990 than in 1989?

A. 8%
B. 25%
C. 41%
D. 59%
E. 70%


In 1990, Dick saved 8 percent more than in 1989
So, Dick's savings in 1990 = 1.08($3000)
= $3240

In 1990, Dick and Jane saved a total of $5,000.
So, Jane's savings = $5,000 - $3240
= $1760

Approximately what percent less did Jane save in 1990 than in 1989?
In 1989, Jane saved $3000
$3000 - $1760 = $1240

ASIDE: We COULD convert $1240/$3000 to a percent, but that's no fun!
A faster approach is to use the answer choices to our advantage (ALWAYS check the answer choices before performing any calculations)
Notice that $1500/$3000 = 1/2 = 50%
So, $1240/$3000 must be a little less than 50%

Check the answer choices . . . . only C works

Answer: C

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Re: Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved  [#permalink]

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New post 10 Oct 2018, 10:36
This is a great example of a question where estimating can save you a ton of time. The answer choices are pretty spread out, so you don't need to be accurate with your calculations. Accuracy takes time and time is your precious resource on the GMAT.

First, estimate the amount Dick saved in 1990. No need to calculate an 8% increase - round up to a 10% increase - estimate that Dick saved $3,300. If Dick saved $3,300, Jane saved $1,700. What is the percentage decrease from $3,000 to $1,700? Use benchmarks to eliminate answers. Is the percent decrease 50% or greater? No - that would result in Jane saving $1,500. Eliminate D and E.

Is the reduction to $1,700 greater than a 25% decrease? Yes! A 25% decrease would be $2,250. Eliminate A and B

C is the only answer left standing.

Think before you Math.
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Re: Dick and Jane each saved $3,000 in 1989. In 1990 Dick saved &nbs [#permalink] 10 Oct 2018, 10:36
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