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

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manishuol
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Two years ago, Arthur gave each of his five children 20 perc [#permalink] New post   Updated on: 21 May 2013, 00:32
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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%
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A

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.
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] New post   21 May 2013, 00:39
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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.
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] New post   27 Jul 2014, 15:10
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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:
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] New post   24 Jun 2017, 02:05
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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"
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] New post   17 Feb 2021, 17:30
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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%

Solution:

We can let Arthur’s total fortune be $100. Thus, each child received $20. Now, let’s determine the amount of money each child has after 2 years.

Alice: 20 x 1.5 x 1.1 = $33

Bob: $33 (since his numbers are identical to those of Alice)

Carol: 20 x 1.5 x 0.4 = $12

Dave: 20 x 0.6 x 1.25 = $15

Errol: $0 (since he lost all of his money)

Therefore, the total they have after 2 years is 33 + 33 + 12 + 15 + 0 = $93, which is 93% of $100.

Answer: A
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] New post   21 May 2013, 01:54
Same question: is-there-a-faster-way-to-do-this-fdp-90250.html
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] 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
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] 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.
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] 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
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] 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
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink] New post   02 Jan 2023, 20:05
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Re: Two years ago, Arthur gave each of his five children 20 perc [#permalink]
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