GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 20 Mar 2019, 16:36

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

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

Author Message
TAGS:

Hide Tags

Math Expert
Joined: 02 Sep 2009
Posts: 53738
The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

Show Tags

30 Jul 2018, 01:11
11
00:00

Difficulty:

15% (low)

Question Stats:

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

HideShow timer Statistics

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)

_________________
Math Expert
Joined: 02 Aug 2009
Posts: 7422
Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

Show Tags

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
_________________

1) Absolute modulus : http://gmatclub.com/forum/absolute-modulus-a-better-understanding-210849.html#p1622372
2)Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html
3) effects of arithmetic operations : https://gmatclub.com/forum/effects-of-arithmetic-operations-on-fractions-269413.html
4) Base while finding % increase and % decrease : https://gmatclub.com/forum/percentage-increase-decrease-what-should-be-the-denominator-287528.html

GMAT Expert

Manager
Joined: 06 Sep 2018
Posts: 175
Location: Pakistan
Concentration: Finance, Operations
GPA: 2.87
WE: Engineering (Other)
Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

Show Tags

21 Sep 2018, 21:14
$$0.942*16800=15825.60$$
_________________

Hitting Kudos is the best way of appreciation.

Eric Thomas, "When you want to succeed as bad as you want to breathe, then you'll be successful."

e-GMAT Representative
Joined: 04 Jan 2015
Posts: 2710
Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

Show Tags

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.

_________________

| '4 out of Top 5' Instructors on gmatclub | 70 point improvement guarantee | www.e-gmat.com

Manager
Joined: 02 Apr 2018
Posts: 50
Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

Show Tags

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
Intern
Joined: 04 Sep 2018
Posts: 39
GPA: 3.33
Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

Show Tags

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

500-600?
Math Expert
Joined: 02 Sep 2009
Posts: 53738
Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

Show Tags

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.
_________________
Re: The value of Maureen's investment portfolio has decreased by 5.8 perce   [#permalink] 07 Jan 2019, 04:29
Display posts from previous: Sort by