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

It is currently 17 Sep 2019, 13:18

Close

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
Your Progress

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

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Two years ago, Arthur gave each of his five children 20 perc

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Find Similar Topics 
Manager
Manager
User avatar
Status: Pushing Hard
Affiliations: GNGO2, SSCRB
Joined: 30 Sep 2012
Posts: 77
Location: India
Concentration: Finance, Entrepreneurship
GPA: 3.33
WE: Analyst (Health Care)
Reviews Badge
Two years ago, Arthur gave each of his five children 20 perc  [#permalink]

Show Tags

New post Updated on: 21 May 2013, 00:32
4
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

78% (02:37) correct 22% (03:18) wrong based on 230 sessions

HideShow timer Statistics

Two years ago, Arthur gave each of his five children 20 percent of his fortune to invest in any way they saw Fit. In the first year, three of the children, Alice, Bob, and Carol, each earned a profit of 50 percent on their Investments, while two of the children, Dave and Errol, lost 40 percent on their investments. In the second Year, Alice and Bob each earned a 10 percent profit, Carol lost 60 percent, Dave earned 25 percent in profit, And Errol lost all the money he had remaining. What percentage of Arthur's fortune currently remains?

A. 93%
B. 97%
C. 100%
D. 107%
E. 120%

_________________
If you don’t make mistakes, you’re not working hard. And Now that’s a Huge mistake.

Originally posted by manishuol on 21 May 2013, 00:07.
Last edited by Bunuel on 21 May 2013, 00:32, edited 1 time in total.
Edited the question.
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 58037
Re: Two years ago, Arthur gave each of his five children 20 perc  [#permalink]

Show Tags

New post 21 May 2013, 00:39
2
1
manishuol wrote:
Two years ago, Arthur gave each of his five children 20 percent of his fortune to invest in any way they saw Fit. In the first year, three of the children, Alice, Bob, and Carol, each earned a profit of 50 percent on their Investments, while two of the children, Dave and Errol, lost 40 percent on their investments. In the second Year, Alice and Bob each earned a 10 percent profit, Carol lost 60 percent, Dave earned 25 percent in profit, And Errol lost all the money he had remaining. What percentage of Arthur's fortune currently remains?

A. 93%
B. 97%
C. 100%
D. 107%
E. 120%


Say Arthur's fortune was $100. Then:

A = 20*1.5*1.1 = 33
B = 20*1.5*1.1 = 33
C = 20*1.5*0.4 = 12
D = 20*0.6*1.25 = 15
E = 0

Total 33 + 33 + 12 + 15 = 93.

Answer: A.
_________________
Senior Manager
Senior Manager
avatar
Joined: 16 Dec 2011
Posts: 288
Re: Two years ago, Arthur gave each of his five children 20 perc  [#permalink]

Show Tags

New post 21 May 2013, 01:54
SVP
SVP
User avatar
Joined: 06 Sep 2013
Posts: 1604
Concentration: Finance
GMAT ToolKit User
Re: Two years ago, Arthur gave each of his five children 20 perc  [#permalink]

Show Tags

New post 29 Jan 2014, 16:28
Bunuel wrote:
manishuol wrote:
Two years ago, Arthur gave each of his five children 20 percent of his fortune to invest in any way they saw Fit. In the first year, three of the children, Alice, Bob, and Carol, each earned a profit of 50 percent on their Investments, while two of the children, Dave and Errol, lost 40 percent on their investments. In the second Year, Alice and Bob each earned a 10 percent profit, Carol lost 60 percent, Dave earned 25 percent in profit, And Errol lost all the money he had remaining. What percentage of Arthur's fortune currently remains?

A. 93%
B. 97%
C. 100%
D. 107%
E. 120%


Say Arthur's fortune was $100. Then:

A = 20*1.5*1.1 = 33
B = 20*1.5*1.1 = 33
C = 20*1.5*0.4 = 12
D = 20*0.6*1.25 = 15
E = 0

Total 33 + 33 + 12 + 15 = 93.

Answer: A.


I think Bunuel's approach is fast enough. Anyways, one could use 100 as the total and then play with the numbers, its not that hard.

Hope it helps
Cheers!
J :)
Manager
Manager
User avatar
Joined: 22 Feb 2009
Posts: 158
GMAT ToolKit User
Re: Two years ago, Arthur gave each of his five children 20 perc  [#permalink]

Show Tags

New post 27 Jul 2014, 15:10
1
manishuol wrote:
Two years ago, Arthur gave each of his five children 20 percent of his fortune to invest in any way they saw Fit. In the first year, three of the children, Alice, Bob, and Carol, each earned a profit of 50 percent on their Investments, while two of the children, Dave and Errol, lost 40 percent on their investments. In the second Year, Alice and Bob each earned a 10 percent profit, Carol lost 60 percent, Dave earned 25 percent in profit, And Errol lost all the money he had remaining. What percentage of Arthur's fortune currently remains?

A. 93%
B. 97%
C. 100%
D. 107%
E. 120%


Reading and solving the problem took me more than 2 minutes. I hate that time-consuming question!!! :evil:
_________________
.........................................................................
+1 Kudos please, if you like my post
Director
Director
avatar
S
Joined: 12 Nov 2016
Posts: 705
Location: United States
Schools: Yale '18
GMAT 1: 650 Q43 V37
GRE 1: Q157 V158
GPA: 2.66
Re: Two years ago, Arthur gave each of his five children 20 perc  [#permalink]

Show Tags

New post 24 Jun 2017, 02:05
manishuol wrote:
Two years ago, Arthur gave each of his five children 20 percent of his fortune to invest in any way they saw Fit. In the first year, three of the children, Alice, Bob, and Carol, each earned a profit of 50 percent on their Investments, while two of the children, Dave and Errol, lost 40 percent on their investments. In the second Year, Alice and Bob each earned a 10 percent profit, Carol lost 60 percent, Dave earned 25 percent in profit, And Errol lost all the money he had remaining. What percentage of Arthur's fortune currently remains?

A. 93%
B. 97%
C. 100%
D. 107%
E. 120%


Simple -x as Artuhur's investment divided by 5 - let x be 2000

2000/5= 400

400(1.5) = 600 (3)

400(.60) = 240 (2)

Second Year


600(1.1) = 660 (2)
600(.40) = 240
240 (1.25) = 300

660(2) + 240 + 300 = 1860/2000

186/200 =93/100

Thus
"A"
Senior Manager
Senior Manager
User avatar
B
Joined: 28 Jun 2015
Posts: 285
Concentration: Finance
GPA: 3.5
Re: Two years ago, Arthur gave each of his five children 20 perc  [#permalink]

Show Tags

New post 24 Jun 2017, 04:14
Percent fortune received by each of A, B, C, D, E = 20%.

Value of the fortune after the first year:
A - 30
B - 30
C - 30
D - 12
E - 12

Value of the fortune after the second year:
A - 33
B - 33
C - 12
D - 15
E - 0

If we assume the initial fortune to be $100, what's left would be $33 + $33 + $12 + $15 = $93 = 93%. Ans - A.
_________________
I used to think the brain was the most important organ. Then I thought, look what’s telling me that.
Manager
Manager
avatar
S
Joined: 21 Apr 2018
Posts: 75
Location: India
GMAT 1: 710 Q50 V35
GMAT 2: 750 Q49 V42
Re: Two years ago, Arthur gave each of his five children 20 perc  [#permalink]

Show Tags

New post 22 Jul 2018, 09:15
I took around 3 minutes to solve this question. Though this question is quite easy, but is there any way that I can save some time
Manager
Manager
avatar
S
Joined: 12 Mar 2019
Posts: 156
Re: Two years ago, Arthur gave each of his five children 20 perc  [#permalink]

Show Tags

New post 18 Aug 2019, 13:05
Let each get 100 in first year :
Total asset : 500
At end of first year
A : 150 , B: 150, C : 150
D : 60, E : 60

At end of 2nd year
A: 165 , B: 165, C : 60, D : 75 ,E : 0
Total : 165+165+60+75 =465
% lost : 465/500 *100 : 93

IMO :A
GMAT Club Bot
Re: Two years ago, Arthur gave each of his five children 20 perc   [#permalink] 18 Aug 2019, 13:05
Display posts from previous: Sort by

Two years ago, Arthur gave each of his five children 20 perc

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  





Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne