Last visit was: 23 Jul 2024, 11:24 It is currently 23 Jul 2024, 11:24
Toolkit
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

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.

# If 0.497 mark has the value of one dollar, what is the value

SORT BY:
Tags:
Show Tags
Hide Tags
Intern
Joined: 12 Oct 2011
Posts: 10
Own Kudos [?]: 96 [21]
Given Kudos: 8
Intern
Joined: 25 Jun 2012
Posts: 28
Own Kudos [?]: 64 [6]
Given Kudos: 4
General Discussion
CEO
Joined: 24 Jul 2011
Status: World Rank #4 MBA Admissions Consultant
Posts: 3189
Own Kudos [?]: 1600 [0]
Given Kudos: 33
GMAT 1: 780 Q51 V48
GRE 1: Q170 V170
Intern
Joined: 12 Oct 2011
Posts: 10
Own Kudos [?]: 96 [0]
Given Kudos: 8
Re: If 0.497 mark has the value of one dollar, what is the value [#permalink]
am so sorry...i dont know why it didnot click for the first time...

0.497==>1
350==>?(say x)

then x = 350/0.497 appx = 704
Intern
Joined: 16 Jun 2013
Posts: 1
Own Kudos [?]: 2 [2]
Given Kudos: 23
Re: If 0.497 mark has the value of one dollar, what is the value [#permalink]
2
Kudos
AlyoshaKaramazov wrote:
.497 is approx .5

Since we rounded up, that is, we said that slightly more marks equals a dollar, we will have to factor this back in.

1/2 mark = 1 dollar

350(1/2) = 700 dollar

+ what we rounded up, thus 704

I know this is a noob question but still I don't get this concept..
Since we rounded up 0.497 to 0.500 should we reduce the final value ?
we got 700 so shouldn't the answer be chosen in the 600 range ?

Thanks,
Math Expert
Joined: 02 Sep 2009
Posts: 94592
Own Kudos [?]: 643320 [1]
Given Kudos: 86728
Re: If 0.497 mark has the value of one dollar, what is the value [#permalink]
1
Kudos
Rockstar21 wrote:
AlyoshaKaramazov wrote:
If 0.497 mark has the value of one dollar, what is the value to the nearest dollar of 350 marks?

A. $174 B.$176
C. $524 D.$696
E. $704 .497 is approx .5 Since we rounded up, that is, we said that slightly more marks equals a dollar, we will have to factor this back in. 1/2 mark = 1 dollar 350(1/2) = 700 dollar + what we rounded up, thus 704 I know this is a noob question but still I don't get this concept.. Since we rounded up 0.497 to 0.500 should we reduce the final value ? we got 700 so shouldn't the answer be chosen in the 600 range ? Thanks, Consider this: 0.497 marks =$1;

0.5 marks = more than $1; 0.5*700=350 marks = more than$1*700=$700. Answer: E. Similar question to practice: m14-78632.html Hope it helps. Intern Joined: 17 Jul 2016 Posts: 35 Own Kudos [?]: 67 [0] Given Kudos: 4 Re: If 0.497 mark has the value of one dollar, what is the value [#permalink] To get from marks to dollars you need to multiply by slightly more than 2. 350(slightly more than 2) = slightly more than 700. So choice E is correct. Manager Joined: 28 May 2018 Posts: 127 Own Kudos [?]: 470 [0] Given Kudos: 883 Location: India Schools: ISB '21 (A) GMAT 1: 640 Q45 V35 GMAT 2: 670 Q45 V37 GMAT 3: 730 Q50 V40 Re: If 0.497 mark has the value of one dollar, what is the value [#permalink] (E) 0.497 mark = 1$.
1 mark = $$\frac{1}{0.497}$$ $. Let's round off 0.497 to 0.5. 1 mark = $$\frac{1}{0.5}$$$.
350 mark =$$\frac{350}{0.5}$$ $= 700$

Now we are left with option D and E.
0.5 > 0.497
We know that dividing by a bigger number gives a smaller result. Since we divided by bigger of the two numbers ( 0.5 and 0.497 ), we got a smaller result.
Dividing with 0.497 ( the smaller number), as in the original equation would have given us a result bigger than 700.
The only option bigger than 700 is E -> 704
Current Student
Joined: 11 Dec 2013
Posts: 121
Own Kudos [?]: 367 [0]
Given Kudos: 44
GMAT 1: 730 Q51 V37
Re: If 0.497 mark has the value of one dollar, what is the value [#permalink]
we need not divide the complicated numbers

Using approximation

$$0.5 \, marks = 1$$
$$350 \, marks =\frac{350}{0.5} = 700$$

As the denominator is slightly less than 0.5 .
the quotient will be slightly more than 700 .

IMO E
GMAT Club Legend
Joined: 12 Sep 2015
Posts: 6804
Own Kudos [?]: 30854 [1]
Given Kudos: 799
Re: If 0.497 mark has the value of one dollar, what is the value [#permalink]
1
Kudos
Top Contributor
giri903 wrote:
If 0.497 mark has the value of one dollar, what is the value to the nearest dollar of 350 marks?

A. $174 B.$176
C. $524 D.$696
E. $704 Since we are comparing marks with dollars, can solve the question using equivalent ratios We'll use the ratio marks/dollars Let x = the number of dollars equivalent to 350 marks We can write: 0.497/1 = 350/x Cross multiply to get: 0.497x = 350 Solve:x = 350/0.497 Important: Do NOT use long division to evaluate 350/0.497 (the test-makers do not care about your ability to be a human calculator) Notice that 350/0.5 = 700 Since 0.497 is a little bit less than 0.5, we can conclude that 350/0.497 is a little bit bigger than 700 Answer: E RELATED VIDEO Board of Directors Joined: 11 Jun 2011 Status:QA & VA Forum Moderator Posts: 6047 Own Kudos [?]: 4767 [0] Given Kudos: 463 Location: India GPA: 3.5 WE:Business Development (Commercial Banking) If 0.497 mark has the value of one dollar, what is the value [#permalink] giri903 wrote: If 0.497 mark has the value of one dollar, what is the value to the nearest dollar of 350 marks? A.$174
B. $176 C.$524
D. $696 E.$704

0.497 ~ 0.50

So, 350 marks is 350*2 = 700, Answer must hence be (E)­
GMAT Club Legend
Joined: 03 Jun 2019
Posts: 5312
Own Kudos [?]: 4245 [0]
Given Kudos: 161
Location: India
GMAT 1: 690 Q50 V34
WE:Engineering (Transportation)
Re: If 0.497 mark has the value of one dollar, what is the value [#permalink]
Asked: If 0.497 mark has the value of one dollar, what is the value to the nearest dollar of 350 marks?

0.497 mark has the value = \$1
1 mark has the value = 1/.497 > 2
350 marks has the value > 2*350 = 700

IMO E
Non-Human User
Joined: 09 Sep 2013
Posts: 34045
Own Kudos [?]: 853 [0]
Given Kudos: 0
Re: If 0.497 mark has the value of one dollar, what is the value [#permalink]
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
Re: If 0.497 mark has the value of one dollar, what is the value [#permalink]
Moderator:
Math Expert
94592 posts