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

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Math Expert
Joined: 02 Sep 2009
Posts: 51121
The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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30 Jul 2018, 00:11
00:00

Difficulty:

15% (low)

Question Stats:

79% (01:15) correct 21% (01:32) wrong based on 340 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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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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30 Jul 2018, 00:52
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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21 Sep 2018, 20:14
$$0.942*16800=15825.60$$
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Re: The value of Maureen's investment portfolio has decreased by 5.8 perce  [#permalink]

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22 Sep 2018, 03:24

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.

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

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26 Sep 2018, 08:48
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
Re: The value of Maureen's investment portfolio has decreased by 5.8 perce &nbs [#permalink] 26 Sep 2018, 08:48
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