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The value of Maureen's investment portfolio has decreased by 5.8 perce

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The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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New post 30 Jul 2018, 01:11
11
00:00
A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

80% (01:31) correct 20% (01:37) wrong based on 505 sessions

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The value of Maureen's investment portfolio has decreased by 5.8 percent since her initial investment in the portfolio. If her initial investment was $16,800, what is the current value of the portfolio?


A. $7,056.00
B. $14,280.00
C. $15,825.60
D. $16,702.56
E. $17,774.40


NEW question from GMAT® Quantitative Review 2019


(PS07793)
Spoiler: OA

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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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New post 30 Jul 2018, 01:52
2
Bunuel wrote:
The value of Maureen's investment portfolio has decreased by 5.8 percent since her initial investment in the portfolio. If her initial investment was $16,800, what is the current value of the portfolio?


A. $7,056.00
B. $14,280.00
C. $15,825.60
D. $16,702.56
E. $17,774.40


NEW question from GMAT® Quantitative Review 2019


(PS07793)


The values are so wide spread that I don't hav eto worry about 5.8 take it as 6
so what is \(16800*\frac{6}{100}\) ~ \(1000\)
so our answer ~ \(16800-1000=15800\)

C
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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New post 21 Sep 2018, 21:14
\(0.942*16800=15825.60\)
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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New post 22 Sep 2018, 04:24
1

Solution



Given:
    • The value of Maureen's investment portfolio has decreased by 5.8 percent since her initial investment in the portfolio
    • Her initial investment was $16,800

To find:
    • The current value of the portfolio

Approach and Working:
We can say 5.8% decrease in very close to 6% decrease.

6% can be calculated as 5% + 1%
    • 100% = 16800
    • 10% = 1680
    • 1% = 168
    • 5% = 840

    • Hence, 6% = 840 + 168 ~ 1000

So, the present value ~ 16800 – 1000 = 15800

Hence, the correct answer is option C.

Answer: C
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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New post 26 Sep 2018, 09:48
What I did was:
( 1 - 5.8/100) * 16,800
= 94.2*168
and then from there I noticed that the last non-zero number would be 6 and will be right behind the decimal place and only C fits that answer
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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New post 07 Jan 2019, 04:17
What is the difficulty level of the question? Can this please be updated?

500-600?
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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New post 07 Jan 2019, 04:29
nust2017 wrote:
What is the difficulty level of the question? Can this please be updated?

500-600?


You can check difficulty level of a question in the tags above original post. For this one is sub-600. The difficulty level of a question is calculated automatically based on the timer stats from the users which attempted the question.
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce   [#permalink] 07 Jan 2019, 04:29
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