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24 Jan 2024, 02:21
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A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
75%
(hard)
Question Stats:
65% (02:35) correct
35%
(02:30)
wrong
based on 826
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Alberto invested a total of $50,000 in 2 new funds-a stock fund and a bond fund. After 1 year, the stock fund had increased 13% in value and the bond fund had increased 18% in value. Was the amount of increase in the bond fund greater than $5,000?
(1) The amount of increase in the stock and bond funds combined was $8,000.
(2) The dollar amount of increase in the stock fund was less than $3,900.
2024-01-24_13-20-14.png [ 56.66 KiB | Viewed 11969 times ]
(1) The amount of increase in the stock and bond funds combined was $8,000.
(2) The dollar amount of increase in the stock fund was less than $3,900.
Attachment:
2024-01-24_13-20-14.png [ 56.66 KiB | Viewed 11969 times ]
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26 Jan 2024, 15:35
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guddo
Initially \(s+b=50,000\)
After \(1\) year the total value becomes \(= .13s+.18b\)
We need to find whether \(.18b > 5000\) or basically we need the value of \(b.\)
(1) The amount of increase in the stock and bond funds combined was $8,000.
\(.13s+.18b=8000\)
Also we know \(s+b =50,000\)
Thus we have two distinct equations and two unknowns, hence we can solve for the value of \(b\).
SUFF.
(2) The dollar amount of increase in the stock fund was less than $3,900.
\(.13s < 3900\)
Thus \(s<30,000\). Hence b \(> 20,000\)
If \(b = 20,100\) then NO.
If \(b = 40,000\) then YES.
INSUFF.
Ans A
Hope it helped.
General Discussion
03 Jul 2024, 06:15
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Using first statement,
The amount of increase in both = 8000
8000 / 50000 * 100 = 16 % over all increase.
Using alligation,
Ratio of Stock and bond = 2/3
Increase in bond fund = 3/5 * 8000 = 4800 ..The answer is NO. Sufficient ; first statement is Sufficient
USing Second statement ,
Let amount invested in Stock = x
13*x / 100 < 3900
x<30,000
Hence the amount invested in bond > 20000
The increase is >= 20000* 18 /100 = 3600
So the amount of increase in the bond fund is greater than 3600 . It can be more than 5000 or not more than 5000.
Hence statement 2 is not sufficient.
A is the answer.
GMATinsight
The amount of increase in both = 8000
8000 / 50000 * 100 = 16 % over all increase.
Using alligation,
Ratio of Stock and bond = 2/3
Increase in bond fund = 3/5 * 8000 = 4800 ..The answer is NO. Sufficient ; first statement is Sufficient
USing Second statement ,
Let amount invested in Stock = x
13*x / 100 < 3900
x<30,000
Hence the amount invested in bond > 20000
The increase is >= 20000* 18 /100 = 3600
So the amount of increase in the bond fund is greater than 3600 . It can be more than 5000 or not more than 5000.
Hence statement 2 is not sufficient.
A is the answer.
GMATinsight
Attachments
stock_bond.png [ 12.64 KiB | Viewed 12329 times ]
