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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
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A
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C
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Question Stats:

80% (01:04) correct 20% (01:21) wrong based on 219 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


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(PS07793)

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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
1
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

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 &nbs [#permalink] 26 Sep 2018, 09:48
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