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29 Aug 2016, 04:03
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E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
88% (01:18) correct
12%
(01:36)
wrong
based on 49
sessions
History
Date
Time
Result
Not Attempted Yet
In a certain growth fund, 3/5 of the investment capital is invested in stocks, and of that portion, 1/3 is invested in preferred stocks. If the mutual fund has $846,000 invested in preferred stocks, what is the total amount of money invested in the fund?
A. $1,974,000
B. $2,538,000
C. $3,264,000
D. $3,826,000
E. $4,230,000
A. $1,974,000
B. $2,538,000
C. $3,264,000
D. $3,826,000
E. $4,230,000
Senthil1981
Joined: 23 Apr 2015
Last visit: 14 Oct 2021
Posts: 225
Given Kudos: 36
Location: United States
Concentration: General Management, International Business
Schools: Booth PT '19 Ross Weekend"19
WE:Engineering (Consulting)
29 Aug 2016, 12:36
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Bunuel
Total invested in preferred stocks is =\(\frac{3}{5}* \frac{1}{5}\) * Fund = 846,000
Fund = 846,000 * 5 = 4,230,000 . Answer is E
29 Aug 2016, 17:40
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Portion invested in preferred stock = 3/5 * 1/3 = 1/5
1/5 of fund = 846---
Fund = 5 * 846---
Here, we can avoid the math and simply look at 5 * 6 -> 30. Only option E has 30 in it.
Answer (E).
1/5 of fund = 846---
Fund = 5 * 846---
Here, we can avoid the math and simply look at 5 * 6 -> 30. Only option E has 30 in it.
Answer (E).
