Author 
Message 
TAGS:

Hide Tags

Manager
Status: Pushing Hard
Affiliations: GNGO2, SSCRB
Joined: 30 Sep 2012
Posts: 81
Location: India
Concentration: Finance, Entrepreneurship
GPA: 3.33
WE: Analyst (Health Care)

Two years ago, Arthur gave each of his five children 20 perc
[#permalink]
Show Tags
Updated on: 21 May 2013, 00:32
Question Stats:
80% (01:21) correct 20% (01:48) wrong based on 326 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%
Official Answer and Stats are available only to registered users. Register/ Login.
_________________
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
Joined: 02 Sep 2009
Posts: 49303

Re: Two years ago, Arthur gave each of his five children 20 perc
[#permalink]
Show Tags
21 May 2013, 00:39
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.
_________________
New to the Math Forum? Please read this: Ultimate GMAT Quantitative Megathread  All You Need for Quant  PLEASE READ AND FOLLOW: 12 Rules for Posting!!! Resources: GMAT Math Book  Triangles  Polygons  Coordinate Geometry  Factorials  Circles  Number Theory  Remainders; 8. Overlapping Sets  PDF of Math Book; 10. Remainders  GMAT Prep Software Analysis  SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS)  Tricky questions from previous years.
Collection of Questions: PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.
What are GMAT Club Tests? Extrahard Quant Tests with Brilliant Analytics



Senior Manager
Joined: 16 Dec 2011
Posts: 357

Re: Two years ago, Arthur gave each of his five children 20 perc
[#permalink]
Show Tags
21 May 2013, 01:54



SVP
Joined: 06 Sep 2013
Posts: 1803
Concentration: Finance

Re: Two years ago, Arthur gave each of his five children 20 perc
[#permalink]
Show Tags
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
Joined: 22 Feb 2009
Posts: 181

Re: Two years ago, Arthur gave each of his five children 20 perc
[#permalink]
Show Tags
27 Jul 2014, 15:10
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 timeconsuming question!!!
_________________
......................................................................... +1 Kudos please, if you like my post



Director
Joined: 12 Nov 2016
Posts: 759
Location: United States
GPA: 2.66

Re: Two years ago, Arthur gave each of his five children 20 perc
[#permalink]
Show Tags
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
Joined: 28 Jun 2015
Posts: 294
Concentration: Finance
GPA: 3.5

Re: Two years ago, Arthur gave each of his five children 20 perc
[#permalink]
Show Tags
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.



Intern
Joined: 21 Apr 2018
Posts: 8

Re: Two years ago, Arthur gave each of his five children 20 perc
[#permalink]
Show Tags
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




Re: Two years ago, Arthur gave each of his five children 20 perc &nbs
[#permalink]
22 Jul 2018, 09:15






