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06 Mar 2026, 04:33
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
(hard)
Question Stats:
54% (03:17) correct
46%
(03:12)
wrong
based on 61
sessions
History
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Not Attempted Yet
One year ago, Dmytro invested 60 percent of his savings in a mutual fund and kept the rest in a cash account. Over the past year, the value of the mutual fund has increased by 20 percent, while the amount of cash has remained unchanged. In order to buy a car today, Dmytro withdraws the same amount from the mutual fund and the cash account. After the withdrawals, two-thirds of the savings that remain are in the mutual fund. What fraction of his current savings does Dmytro withdraw?
A. 1/8
B. 1/7
C. 1/6
D. 3/16
E. 1/5
A. 1/8
B. 1/7
C. 1/6
D. 3/16
E. 1/5
06 Mar 2026, 04:51
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kevincan
Let the total savings be 100x
Then MF savings = 60x
Cash savings = 40x
The MF savings increased by 20% = 60*(6/5) = 72x
Total savings currently = 72x + 40x = 112x
We are withdrawing an equal amount from MF and cash, let that be a.
So, post withdrawal the amounts are:
MF = 72x -a
Cash = 40x -a
Total amount remaining = 112x -2a
Given that (2/3)*(112x - 2a) = 72x - a
224x -4a = 216x -3a
a = 8x
Withdrawal amount = 2a = 2*8x = 16x
Fraction of withdrawal amount from savings = 16x /112x
= 1/7
Option B
arushi118
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07 Mar 2026, 23:17
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Let initial amout invested one year ago = 100
In mutual fund -- 60
In cash account -- 40
current amount of savings (after increase in 20% in mutual fund):
In mutual fund -- 72
In cash account -- 40
let amount taken out from each account = x
So amount left:
In mutual fund -- 72 - x
In cash account -- 40 - x
And it is given that: 72-x = 2/3 of (112 - 2x)
On solving: x = 8
Fraction of current savings -- 8/(72+40) = 1/7 (B)
In mutual fund -- 60
In cash account -- 40
current amount of savings (after increase in 20% in mutual fund):
In mutual fund -- 72
In cash account -- 40
let amount taken out from each account = x
So amount left:
In mutual fund -- 72 - x
In cash account -- 40 - x
And it is given that: 72-x = 2/3 of (112 - 2x)
On solving: x = 8
Fraction of current savings -- 8/(72+40) = 1/7 (B)
