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29 Oct 2015, 19:21
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E
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QUANT 4-PACK SERIES Problem Solving Pack 2 Question 2 A day-trader plans to invest...
A day-trader plans to invest a total of $23,500 into 15 separate investments. If each investment requires a minimum deposit of $1,400, then which of the following is the maximum amount that she could put into any one investment?
A) $2,800
B) $3,000
C) $3,500
D) $3,800
E) $3,900
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OA, and explanation will be posted after the 48 hour window closes.
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A day-trader plans to invest a total of $23,500 into 15 separate investments. If each investment requires a minimum deposit of $1,400, then which of the following is the maximum amount that she could put into any one investment?
A) $2,800
B) $3,000
C) $3,500
D) $3,800
E) $3,900
48 Hour Window Answer & Explanation Window
Earn KUDOS! Post your answer and explanation.
OA, and explanation will be posted after the 48 hour window closes.
This question is part of the Quant 4-Pack series
Scroll Down For Official Explanation
musunna
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29 Oct 2015, 21:38
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I've started loving this math series EMPOWERgmatRichC 
To find the maximum amount of a particular investment, we need to consider minimum investment for the other 14 investments.
Let 14 investments with minimum deposit i.e. $1400*14 = $19,600.
So remaining amount for the last item investment is $23500-$19600 = $3900
Thus correct option (E)
Quote:
It's a max-mini problem.
To find the maximum amount of a particular investment, we need to consider minimum investment for the other 14 investments.
Let 14 investments with minimum deposit i.e. $1400*14 = $19,600.
So remaining amount for the last item investment is $23500-$19600 = $3900
Thus correct option (E)
ENGRTOMBA2018
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30 Oct 2015, 04:10
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EMPOWERgmatRichC
To maximize 1 investment you need to minimize the other 14 investments.
Thus the minimum value of the 14 investments = 14*1400 = 19600
Thus the maximized 15th investment = 23500-19600 = 3900 $
E is the correct answer.
