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The value of Maureen's investment portfolio has decreased by 5.8 perce
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Bunuel
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The value of Maureen's investment portfolio has decreased by 5.8 perce [#permalink] New post  30 Jul 2018, 00:11
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A
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79% (01:31) correct 21% (01:37) wrong based on 806 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)
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chetan2u
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce [#permalink] New post  30 Jul 2018, 00:52
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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] New post  21 Sep 2018, 20:14
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\(0.942*16800=15825.60\)
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EgmatQuantExpert
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce [#permalink] New post  22 Sep 2018, 03:24
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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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lostboy
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce [#permalink] New post  26 Sep 2018, 08:48
1
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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nust2017
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce [#permalink] New post  07 Jan 2019, 03:17
What is the difficulty level of the question? Can this please be updated?

500-600?
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Bunuel
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce [#permalink] New post  07 Jan 2019, 03:29
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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.
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce [#permalink] New post  27 Mar 2019, 15:08
[1] Set Approximate Values

5.8% -> 6%

$16,800 -> $17,000

[2] Solve

.06*17,000 = ~1,000

17,000 - 1,000 = 16,000

Answer C ($15,825.60)
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