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

It is currently 26 Aug 2019, 02:21

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

Financial success does not guarantee happiness. This claim

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

Hide Tags

Find Similar Topics 
Manager
Manager
avatar
B
Joined: 08 Nov 2015
Posts: 57
GMAT 1: 460 Q32 V22
Re: Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 09 Aug 2016, 23:45
Antmavel wrote:
Financial success does not guarantee happiness. This claim is not mere proverbial wisdom but a fact verified by statistics. In a recently concluded survey, only one-third of the respondents who claimed to have achieved financial success reported that they were happy.

Which one of the following, if true, most strongly supports the conclusion drawn from the survey results?

(A) The respondents who reported financial success were, for the most part, financially successful.
(B) Financial success was once thought to be necessary for happiness but is no longer considered a prerequisite for happiness.
(C) Many of the respondents who claimed not to have achieved financial success reported that they were happy five years ago.
(D) Many of the respondents who failed to report financial success were in fact financially successful.
(E) Most of the respondents who reported they were unhappy were in fact happy.


Correct answer is A. C, D and E are straightaway out since we they cannot support the conclusion which are outside premise give.
B re-states the fact mentioned in the Premise. A shows that all the people were financially successful however only some of them showed happiness.
Intern
Intern
avatar
Joined: 20 Jul 2016
Posts: 22
Re: Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 10 Aug 2016, 03:09
abrakadabra21 wrote:
anje29 wrote:
Clearly , answer is ' A' as it strengthens that if 1/3 financial successful participants have asnwered that they are unhappy , then for the conclusion to be true most of the participants have to be financially successful otherwise conclusion will break.


why do you need -most of the participants have to be financially successful, their financial success is not question mark. it's already been told that
the respondents who claimed to have achieved financial success => we are already looking at the subset of people who have achieved financial success.


only one-third of the respondents who claimed to have achieved financial success reported that they were happy

'Claimed to achieve financial success' according to me is again subjective. Similar to what you have expressed in a above post.
For ex A person X can 'claim' 1000 dollars as financial success whereas another person y can 'claim' even 10000 dollars not a financial success..

Choice A says that whose who 'claimed' to be financially successful were indeed successful (as viewed from a third person). So in that sense I meant Choice A to be evaluative.

Am I going wrong in understanding this?
Director
Director
User avatar
B
Joined: 04 Jun 2016
Posts: 558
GMAT 1: 750 Q49 V43
Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 10 Aug 2016, 06:39
1
1
Financial success does not guarantee happiness. This claim is not mere proverbial wisdom but a fact verified by statistics. In a recently concluded survey, only one-third of the respondents who claimed to have achieved financial success reported that they were happy.

Which one of the following, if true, most strongly supports the conclusion drawn from the survey results?

Background:- The old age proverb is you can't buy happiness. Meaning Money cannot buy happiness

Premise 1) Financial Success does not guarantee happiness
Premise 2) This is proved by statistical studies
Conclusion) In a survey only one-third (33%) of the respondent who CLAIMED to have achieved financial success said they were happy.


The conclusion is a very tricky one because it makes some test taker to think about the remaining two third 66% of people and this will make them to infer and assume things that are not explicitly mentioned in the argument. DON'T DO THAT. Remember we don't have to include them in our thought process. Since the argument draws conclusion about 33% of people so this is the subset that we will use to strengthen out conclusion.

Now what if these 33% happy people were actually utter failures in their life or only moderately successful but due to some misguided sense of prosperity/richness they thought they were financially successful. --> Then it would mean that they were happy but not really financially successful. Then the argument will fall apart. We have remove any doubt about their financial success and by doing so we will show that they were indeed successful and indeed happy.

What option does the trick
OPTION A
(A) The respondents who reported financial success were, for the most part, financially successful.
Meaning they were really successful and also happy.


(A) The respondents who reported financial success were, for the most part, financially successful.
CORRECT

(B) Financial success was once thought to be necessary for happiness but is no longer considered a prerequisite for happiness.
WRONG :-DEEP PHILOSOPHICAL INCORRECT ANSWER :) IRRELEVANT

(C) Many of the respondents who claimed not to have achieved financial success reported that they were happy five years ago.
WRONG:- Not successfull right now ---> happy five years ago--> currently happy or unhappy ???
The option prompts that they are unhappy .
argument is successfull ---> happy
Option is Not successfull---> not happy
Mistaken reversal.

(D) Many of the respondents who failed to report financial success were in fact financially successful.
WRONG:-Does not give us any idea about the sate of happiness of such participant and thus cannot be use to strengthen the conclusion.

(E) Most of the respondents who reported they were unhappy were in fact happy.
Wrong:- Does not give us the link between financial success and state of happiness/unhappiness of such participants. Cannot be used to strengthen the argument.


Antmavel wrote:
Financial success does not guarantee happiness. This claim is not mere proverbial wisdom but a fact verified by statistics. In a recently concluded survey, only one-third of the respondents who claimed to have achieved financial success reported that they were happy.

Which one of the following, if true, most strongly supports the conclusion drawn from the survey results?

(A) The respondents who reported financial success were, for the most part, financially successful.
(B) Financial success was once thought to be necessary for happiness but is no longer considered a prerequisite for happiness.
(C) Many of the respondents who claimed not to have achieved financial success reported that they were happy five years ago.
(D) Many of the respondents who failed to report financial success were in fact financially successful.
(E) Most of the respondents who reported they were unhappy were in fact happy.

_________________
Posting an answer without an explanation is "GOD COMPLEX". The world doesn't need any more gods. Please explain you answers properly.
FINAL GOODBYE :- 17th SEPTEMBER 2016. .. 16 March 2017 - I am back but for all purposes please consider me semi-retired.
Board of Directors
User avatar
V
Status: Stepping into my 10 years long dream
Joined: 18 Jul 2015
Posts: 3600
Reviews Badge
Re: Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 10 Aug 2016, 10:21
LogicGuru1 wrote:
Financial success does not guarantee happiness. This claim is not mere proverbial wisdom but a fact verified by statistics. In a recently concluded survey, only one-third of the respondents who claimed to have achieved financial success reported that they were happy.

Which one of the following, if true, most strongly supports the conclusion drawn from the survey results?

Background:- The old age proverb is you can't buy happiness. Meaning Money cannot buy happiness

Premise 1) Financial Success does not guarantee happiness
Premise 2) This is proved by statistical studies
Conclusion) In a survey only one-third (33%) of the respondent who CLAIMED to have achieved financial success said they were happy.


The conclusion is a very tricky one because it makes some test taker to think about the remaining two third 66% of people and this will make them to infer and assume things that are not explicitly mentioned in the argument. DON'T DO THAT. Remember we don't have to include them in our thought process. Since the argument draws conclusion about 33% of people so this is the subset that we will use to strengthen out conclusion.

Now what if these 33% happy people were actually utter failures in their life or only moderately successful but due to some misguided sense of prosperity/richness they thought they were financially successful. --> Then it would mean that they were happy but not really financially successful. Then the argument will fall apart. We have remove any doubt about their financial success and by doing so we will show that they were indeed successful and indeed happy.

What option does the trick
OPTION A
(A) The respondents who reported financial success were, for the most part, financially successful.
Meaning they were really successful and also happy.


(A) The respondents who reported financial success were, for the most part, financially successful.
CORRECT

(B) Financial success was once thought to be necessary for happiness but is no longer considered a prerequisite for happiness.
WRONG :-DEEP PHILOSOPHICAL INCORRECT ANSWER :) IRRELEVANT

(C) Many of the respondents who claimed not to have achieved financial success reported that they were happy five years ago.
WRONG:- Not successfull right now ---> happy five years ago--> currently happy or unhappy ???
The option prompts that they are unhappy .
argument is successfull ---> happy
Option is Not successfull---> not happy
Mistaken reversal.

(D) Many of the respondents who failed to report financial success were in fact financially successful.
WRONG:-Does not give us any idea about the sate of happiness of such participant and thus cannot be use to strengthen the conclusion.

(E) Most of the respondents who reported they were unhappy were in fact happy.
Wrong:- Does not give us the link between financial success and state of happiness/unhappiness of such participants. Cannot be used to strengthen the argument.


Antmavel wrote:
Financial success does not guarantee happiness. This claim is not mere proverbial wisdom but a fact verified by statistics. In a recently concluded survey, only one-third of the respondents who claimed to have achieved financial success reported that they were happy.

Which one of the following, if true, most strongly supports the conclusion drawn from the survey results?

(A) The respondents who reported financial success were, for the most part, financially successful.
(B) Financial success was once thought to be necessary for happiness but is no longer considered a prerequisite for happiness.
(C) Many of the respondents who claimed not to have achieved financial success reported that they were happy five years ago.
(D) Many of the respondents who failed to report financial success were in fact financially successful.
(E) Most of the respondents who reported they were unhappy were in fact happy.


Although I have marked the answer as A and I completely agree that it validates the accuracy of the survey and hence strengthens the conclusion, I have a concern with your explanation here.

You said the conclusion is "In a survey only one-third (33%) of the respondent who CLAIMED to have achieved financial success said they were happy."

but don't you think the conclusion of the argument is "Financial success does not guarantee happiness.".

Survey given is only strengthening the conclusion. I understand that we have claimed and concluded words in the last line, but if we look from an overall argument perspective, the conclusion would be what I said above.

Please provide your thoughts here.
_________________
My GMAT Story: From V21 to V40
My MBA Journey: My 10 years long MBA Dream
My Secret Hacks: Best way to use GMATClub | Importance of an Error Log!
Verbal Resources: All SC Resources at one place | All CR Resources at one place
Blog: Subscribe to Question of the Day Blog
GMAT Club Inbuilt Error Log Functionality - View More.
New Visa Forum - Ask all your Visa Related Questions - here.
New! Best Reply Functionality on GMAT Club!
Find a bug in the new email templates and get rewarded with 2 weeks of GMATClub Tests for free
Check our new About Us Page here.
Director
Director
User avatar
B
Joined: 04 Jun 2016
Posts: 558
GMAT 1: 750 Q49 V43
Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 10 Aug 2016, 12:55
abhimahna wrote:
Although I have marked the answer as A and I completely agree that it validates the accuracy of the survey and hence strengthens the conclusion, I have a concern with your explanation here.

You said the conclusion is "In a survey only one-third (33%) of the respondent who CLAIMED to have achieved financial success said they were happy."

but don't you think the conclusion of the argument is "Financial success does not guarantee happiness.".

Survey given is only strengthening the conclusion. I understand that we have claimed and concluded words in the last line, but if we look from an overall argument perspective, the conclusion would be what I said above.

Please provide your thoughts here.


As i have written earlier in my post
The conclusion is a very tricky one because it makes some test taker to think about the remaining two third 66% of people and this will make them to infer and assume things that are not explicitly mentioned in the argument. DON'T DO THAT. Remember we don't have to include them in our thought process. Since the argument draws conclusion about 33% of people so this is the subset that we will use to strengthen out conclusion.


The conclusion does not even touch the statistics or numbers or variety of people who are unhappy. If we start thinking about that group then we will have to go into the territory of inference and assumption. But thats not what the questions is asking.
Its like (2 | 2 )= 4 now you can either use (2 * 2) = 4 or (2+2)= 4 Multiplication and addition would give the same result if there was no condition But if the question have a condition that you cannot use multiplication then 2*2 = 4 will become wrong and only 2 + 2 = 4 will be the valid answer. Similarly even though we can definitely make some inferences about the unhappy 2/3 rd people. But that is not the question is asking us to do. The question is about conclusion and not inferences or assumption.

Remember Conclusion will always be mentioned if the question is asking about strenghtening the conlusion. Inference is something that can be "derived" using one or more or some combination of premises. It is never stated or written explicitly in the argument. INFERENCES by definition are secondary conclusion that can also be derived by using the premises.
Here in this case a clear definite explicit conclusion is given to us. Anything else that deviates from the conclusion but satisfy the premises of the argument will most likely be an inference. So the 2/3rd people are not happy is an inference.
Hope you get it now !
_________________
Posting an answer without an explanation is "GOD COMPLEX". The world doesn't need any more gods. Please explain you answers properly.
FINAL GOODBYE :- 17th SEPTEMBER 2016. .. 16 March 2017 - I am back but for all purposes please consider me semi-retired.
Manager
Manager
User avatar
G
Status: Active
Affiliations: NA
Joined: 24 Oct 2012
Posts: 245
GMAT 1: 590 Q50 V21
GMAT 2: 600 Q48 V25
GMAT 3: 730 Q51 V37
GPA: 3.5
Re: Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 10 Aug 2016, 13:06
abrakadabra21 wrote:
anje29 wrote:
Clearly , answer is ' A' as it strengthens that if 1/3 financial successful participants have asnwered that they are unhappy , then for the conclusion to be true most of the participants have to be financially successful otherwise conclusion will break.


why do you need -most of the participants have to be financially successful, their financial success is not question mark. it's already been told that
the respondents who claimed to have achieved financial success => we are already looking at the subset of people who have achieved financial success.



Yes , I comprehend wrong earlier . Now I see the option is just confirming the claim by 1/3 supporters that they were really happy . Thanks :)
_________________
#If you like my post , please encourage me by giving Kudos :)
Senior Manager
Senior Manager
avatar
S
Joined: 07 Sep 2014
Posts: 344
Concentration: Finance, Marketing
Re: Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 10 Aug 2016, 19:52
LogicGuru1 wrote:
abhimahna wrote:
Although I have marked the answer as A and I completely agree that it validates the accuracy of the survey and hence strengthens the conclusion, I have a concern with your explanation here.

You said the conclusion is "In a survey only one-third (33%) of the respondent who CLAIMED to have achieved financial success said they were happy."

but don't you think the conclusion of the argument is "Financial success does not guarantee happiness.".

Survey given is only strengthening the conclusion. I understand that we have claimed and concluded words in the last line, but if we look from an overall argument perspective, the conclusion would be what I said above.

Please provide your thoughts here.


As i have written earlier in my post
The conclusion is a very tricky one because it makes some test taker to think about the remaining two third 66% of people and this will make them to infer and assume things that are not explicitly mentioned in the argument. DON'T DO THAT. Remember we don't have to include them in our thought process. Since the argument draws conclusion about 33% of people so this is the subset that we will use to strengthen out conclusion.


The conclusion does not even touch the statistics or numbers or variety of people who are unhappy. If we start thinking about that group then we will have to go into the territory of inference and assumption. But thats not what the questions is asking.
Its like (2 | 2 )= 4 now you can either use (2 * 2) = 4 or (2+2)= 4 Multiplication and addition would give the same result if there was no condition But if the question have a condition that you cannot use multiplication then 2*2 = 4 will become wrong and only 2 + 2 = 4 will be the valid answer. Similarly even though we can definitely make some inferences about the unhappy 2/3 rd people. But that is not the question is asking us to do. The question is about conclusion and not inferences or assumption.

Remember Conclusion will always be mentioned if the question is asking about strenghtening the conlusion. Inference is something that can be "derived" using one or more or some combination of premises. It is never stated or written explicitly in the argument. INFERENCES by definition are secondary conclusion that can also be derived by using the premises.
Here in this case a clear definite explicit conclusion is given to us. Anything else that deviates from the conclusion but satisfy the premises of the argument will most likely be an inference. So the 2/3rd people are not happy is an inference.
Hope you get it now !

I got your point.

But financial sucess doesnt gurantee happiness seems conclusion to me basesd on premises that present survey result. How come result of survey a conclusion. Ultimate goal is to arrive at the point whether financial success gurantee happiness or not.

Sent from my Moto G (4) using GMAT Club Forum mobile app
Director
Director
User avatar
B
Joined: 04 Jun 2016
Posts: 558
GMAT 1: 750 Q49 V43
Re: Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 10 Aug 2016, 21:41
Going by the flow of the premises, I agree :- "financial success does not guarantee happiness" should/could have been the conclusion
But since the author of the argument has already given us a conclusion in a roundabout way and then asked us to strengthen it, we will have to accept his conclusion and the argument as a whole. Among the given option choices "A" does the strengthening and rest all are incorrect.

abrakadabra21 wrote:
LogicGuru1 wrote:
abhimahna wrote:
Although I have marked the answer as A and I completely agree that it validates the accuracy of the survey and hence strengthens the conclusion, I have a concern with your explanation here.

You said the conclusion is "In a survey only one-third (33%) of the respondent who CLAIMED to have achieved financial success said they were happy."

but don't you think the conclusion of the argument is "Financial success does not guarantee happiness.".

Survey given is only strengthening the conclusion. I understand that we have claimed and concluded words in the last line, but if we look from an overall argument perspective, the conclusion would be what I said above.

Please provide your thoughts here.


As i have written earlier in my post
The conclusion is a very tricky one because it makes some test taker to think about the remaining two third 66% of people and this will make them to infer and assume things that are not explicitly mentioned in the argument. DON'T DO THAT. Remember we don't have to include them in our thought process. Since the argument draws conclusion about 33% of people so this is the subset that we will use to strengthen out conclusion.


The conclusion does not even touch the statistics or numbers or variety of people who are unhappy. If we start thinking about that group then we will have to go into the territory of inference and assumption. But thats not what the questions is asking.
Its like (2 | 2 )= 4 now you can either use (2 * 2) = 4 or (2+2)= 4 Multiplication and addition would give the same result if there was no condition But if the question have a condition that you cannot use multiplication then 2*2 = 4 will become wrong and only 2 + 2 = 4 will be the valid answer. Similarly even though we can definitely make some inferences about the unhappy 2/3 rd people. But that is not the question is asking us to do. The question is about conclusion and not inferences or assumption.

Remember Conclusion will always be mentioned if the question is asking about strenghtening the conlusion. Inference is something that can be "derived" using one or more or some combination of premises. It is never stated or written explicitly in the argument. INFERENCES by definition are secondary conclusion that can also be derived by using the premises.
Here in this case a clear definite explicit conclusion is given to us. Anything else that deviates from the conclusion but satisfy the premises of the argument will most likely be an inference. So the 2/3rd people are not happy is an inference.
Hope you get it now !

I got your point.

But financial sucess doesnt gurantee happiness seems conclusion to me basesd on premises that present survey result. How come result of survey a conclusion. Ultimate goal is to arrive at the point whether financial success gurantee happiness or not.

Sent from my Moto G (4) using GMAT Club Forum mobile app

_________________
Posting an answer without an explanation is "GOD COMPLEX". The world doesn't need any more gods. Please explain you answers properly.
FINAL GOODBYE :- 17th SEPTEMBER 2016. .. 16 March 2017 - I am back but for all purposes please consider me semi-retired.
Board of Directors
User avatar
P
Joined: 17 Jul 2014
Posts: 2529
Location: United States (IL)
Concentration: Finance, Economics
GMAT 1: 650 Q49 V30
GPA: 3.92
WE: General Management (Transportation)
GMAT ToolKit User Reviews Badge
Re: Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 09 Oct 2016, 11:32
Antmavel wrote:
Financial success does not guarantee happiness. This claim is not mere proverbial wisdom but a fact verified by statistics. In a recently concluded survey, only one-third of the respondents who claimed to have achieved financial success reported that they were happy.

Which one of the following, if true, most strongly supports the conclusion drawn from the survey results?

(A) The respondents who reported financial success were, for the most part, financially successful.
(B) Financial success was once thought to be necessary for happiness but is no longer considered a prerequisite for happiness.
(C) Many of the respondents who claimed not to have achieved financial success reported that they were happy five years ago.
(D) Many of the respondents who failed to report financial success were in fact financially successful.
(E) Most of the respondents who reported they were unhappy were in fact happy.


by the process of elimination, I got rid of B, C, and E. D isn't working out, because the survey tells us that only 1/3 of THOSE who responded to be financially successful. A stands, and D is out.
_________________
Image
Intern
Intern
avatar
B
Status: As cheeks from my insta feed say: soon...
Joined: 17 Jan 2016
Posts: 40
Re: Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 09 Aug 2019, 03:50
kudos if you got the last sentence as "among financially successfuls, 1/3 were happy"
Veritas Prep GMAT Instructor
User avatar
D
Joined: 16 Oct 2010
Posts: 9563
Location: Pune, India
Re: Financial success does not guarantee happiness. This claim  [#permalink]

Show Tags

New post 18 Aug 2019, 22:35
cbrf3 wrote:
Financial success does not guarantee happiness. This claim is not mere proverbial wisdom but a fact verified by statistics. In a recently concluded survey, only one-third of the respondents who claimed to have achieved financial success reported that they were happy.

Which one of the following, if true, most strongly supports the conclusion drawn from the survey results?

(A) The respondents who reported financial success were, for the most part, financially successful

(B) Financial success was once thought to be necessary for happiness but is no longer considered a prerequisite for happiness

(C) Many of the respondents who claimed not to have achieved financial success reported that they were happy five years ago

(D) Many of the respondents who failed to report financial success were in fact financially successful

(E) Most of the respondents who reported they were unhappy were in fact happy.



Survey - only one-third of the respondents who claimed to have achieved financial success reported that they were happy

Conclusion: Financial success does not guarantee happiness.

As discussed number of times before, the most important point in CR questions is to understand the argument well. Look at what the survey found - 1/3 of respondents who claimed to have fin success reported happiness.
But our conclusion says fin success does not guarantee happiness. It does not say that people who claim to have fin success needn't be happy.
So even before you move on to the options, you should note this difference in wording.

Which option supports the conclusion:

(A) The respondents who reported financial success were, for the most part, financially successful

This option tells us that most of those who claim to be financially successful, actually are financially successful. Then the results of the survey are actually valid. This does support that financial success does not guarantee happiness.

(B) Financial success was once thought to be necessary for happiness but is no longer considered a prerequisite for happiness

Our conclusion says that fin success is not sufficient for happiness. Whether it is necessary for happiness or not, is irrelevant to our argument.

(C) Many of the respondents who claimed not to have achieved financial success reported that they were happy five years ago

Were they financially successful five years ago or not, we don't know. So this option is irrelevant. No need to evaluate.

(D) Many of the respondents who failed to report financial success were in fact financially successful

The survey does not care about those who did not report financial success. We are only told about the result of those who claimed to be financially successful. Our conclusion is then drawn from only that pool. Say there were 500 participants. 200 said they were financially successful. 65 of these 200 said they were happy. Are we bothered about the 300 who said they were not fin successful? No. The survey results do not talk about them.
We don't now whether those who failed to report fin success reported being happy or not. Hence, this does not help establish our conclusion.

(E) Most of the respondents who reported they were unhappy were in fact happy.

This doesn't help our conclusion. If anything, it weakens it a tad.

Answer (A)
_________________
Karishma
Veritas Prep GMAT Instructor

Learn more about how Veritas Prep can help you achieve a great GMAT score by checking out their GMAT Prep Options >
GMAT Club Bot
Re: Financial success does not guarantee happiness. This claim   [#permalink] 18 Aug 2019, 22:35

Go to page   Previous    1   2   [ 31 posts ] 

Display posts from previous: Sort by

Financial success does not guarantee happiness. This claim

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





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