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15 Feb 2023, 00:18
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Difficulty:
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Question Stats:
74% (02:26) correct
26%
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In a group of 17 wealthy individuals, the poorest seven have a net worth of $777 million each, while the rest have a net worth of $811 million each. What is the average net worth (in millions) for the entire group ?
A. 793
B. 795
C. 797
D. 799
E. 801
A. 793
B. 795
C. 797
D. 799
E. 801
08 Mar 2023, 11:12
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In a group of 17 wealthy individuals, the poorest seven have a net worth of $777 million each, while the rest have a net worth of $811 million each. What is the average net worth (in millions) for the entire group ?
Short Method.
1]Find difference between 2 values: 811-777=34Million
2]Divide difference from total number of entries: 34/17=2Million, Let us call this Unit Difference[UD]
3]Note that we have 2 groups; Group A[7 people with 777Million] & Group B[10 People with 811Million]
4]Avg. value will be
Group A+[No. of People in Group B*Unit Difference(UD)] OR
Group B-[No. of People in Group A*Unit Difference(UD)]
777+[10*2]=797Million OR 811-[7*2]=797Million
Short Method.
1]Find difference between 2 values: 811-777=34Million
2]Divide difference from total number of entries: 34/17=2Million, Let us call this Unit Difference[UD]
3]Note that we have 2 groups; Group A[7 people with 777Million] & Group B[10 People with 811Million]
4]Avg. value will be
Group A+[No. of People in Group B*Unit Difference(UD)] OR
Group B-[No. of People in Group A*Unit Difference(UD)]
777+[10*2]=797Million OR 811-[7*2]=797Million
General Discussion
mbaaspirantss07
Joined: 08 Sep 2023
Last visit: 29 May 2025
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GRE 1: Q170 V167
Schools: Fuqua '27 (WL) Darden '27 (A$) Booth '27 (D) LBS '26 (I) Ross '27 (I) Said '27 (A) Judge '26 (II) IESE '27 (I) Tuck '27 (I)
GRE 1: Q170 V167
Posts: 44
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09 Mar 2024, 12:04
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Can this not be done by following: (777x11) + (811x10) / 17 = 797?
