The value of Maureen's investment portfolio has decreased by 5.8 perce : Problem Solving (PS)

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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

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

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30 Jul 2018, 01:11

00:00

Difficulty:

15% (low)

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

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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30 Jul 2018, 01:52

Bunuel wrote:

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, 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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22 Sep 2018, 04:24

Solution

Given:

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%

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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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