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In a survey of market analysts, each analyst selected from a list of

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In a survey of market analysts, each analyst selected from a list of [#permalink]

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New post Updated on: 01 Jun 2015, 01:34
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Question Stats:

76% (01:28) correct 24% (01:14) wrong based on 104 sessions

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In a survey of market analysts, each analyst selected from a list of 20 mutual funds the 2 mutual funds that the analyst thought would have the greatest increase in price over the next 12 months. If each mutual fund were selected 5 times, how many analysts were surveyed?

(A) 50
(B) 60
(C) 80
(D) 100
(E) 160

Originally posted by Gmatdecoder on 01 Jun 2015, 01:26.
Last edited by Bunuel on 01 Jun 2015, 01:34, edited 1 time in total.
Edited the question.
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Re: In a survey of market analysts, each analyst selected from a list of [#permalink]

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New post 01 Jun 2015, 02:14
1
Given
We are given that each analyst selected 2 mutual funds from a list of 20 mutual funds. Also each mutual fund was selected 5 times. We are asked to find the number of analysts that were surveyed.

Approach
Total number of selections = Number of mutual funds * Number of times each mutual fund was selected

Also,

Total number of selections = Number of mutual funds selected by each analyst * Number of analysts

Therefore we can write

Number of mutual funds * Number of times each mutual fund was selected = Number of mutual funds selected by each analyst * Number of analysts

Working Out
Substituting the values in the equation

20 * 5 = 2 * Number of analysts

Number of analysts = 50


Hope it's clear :)

Regards
Harsh
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Re: In a survey of market analysts, each analyst selected from a list of [#permalink]

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New post 01 Jun 2015, 21:32
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Hi Gmatdecoder,

The way this question is worded isn't too common for the GMAT, but solving it is really more about organizing your information (and less about 'math skills').

We're given a list of facts to work with:
1) There are 20 mutual funds
2) Each analyst selects 2 of them
3) Each mutual fund is selected by 5 analysts

We're asked how many total analysts there are....

Since there are 20 funds and each is selected by 5 analysts, there were 100 total selections. Since each analyst made 2 total selections, there are 100/2 = 50 analysts.

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Re: In a survey of market analysts, each analyst selected from a list of [#permalink]

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New post 08 Oct 2017, 13:04
Gmatdecoder wrote:
In a survey of market analysts, each analyst selected from a list of 20 mutual funds the 2 mutual funds that the analyst thought would have the greatest increase in price over the next 12 months. If each mutual fund were selected 5 times, how many analysts were surveyed?

(A) 50
(B) 60
(C) 80
(D) 100
(E) 160


Can someone pls explain this one!!!
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Re: In a survey of market analysts, each analyst selected from a list of [#permalink]

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New post 08 Oct 2017, 14:54
Hi doeadoer,

There are already a couple of explanations for this question. Was there anything particular about this prompt that you found difficult or confusing?

GMAT assassins aren't born, they're made,
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Re: In a survey of market analysts, each analyst selected from a list of   [#permalink] 08 Oct 2017, 14:54
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