Problem Solving

If 1/2 of the money in a trust fund is invested in stocks, 1/4 in bonds, 1/5 in mutual funds, and the remaining $12,000 is in a bank, what is the total amount of the whole fund ?

a. 110k
b. 125k
c. 180k
d. 210k
e. 240k


I Have no clue on this one

Hi...this is my first time actually answering someone’s question, so i hope someone can backup my answer. This is how i solved it.

Let X = Amount of money Invested

Step 1) I setup an equation to subtract the amount of money already invested from the total, that will equal the fraction of X which is left, or 12K

1X-(1/2X +1/4X+ 1/5X)=12000

Step 2) Then i divided the 12K by the fraction by 1/20 to equal the total

1/20X=12000

Step 3)

X=240000

So its E.

thanks scout! I think you're absolutely correct...

Obviously, I need to improve my analytical skills in trying to understand the problem in a mathematical context.

Thanks

I would be the happiest person if I see such participation.
C'mon Scout no need to backup ... good explanation there. 8)

Umm a quicker method could be to convert the fractions to decimals as you read the problem
So 1/2 become 50%, 1/4 became 25% and 1/5 became 20% giving you a total of 95%

So remaining 5% = 12,000
Therefore 100% = 240,000

Neo2000 wrote:Umm a quicker method could be to convert the fractions to decimals as you read the problem
So 1/2 become 50%, 1/4 became 25% and 1/5 became 20% giving you a total of 95%

So remaining 5% = 12,000
Therefore 100% = 240,000

oh Yeah! I used the same approach as Neo2000's.

Neo - that is a very nice n easy way to think about this problem...thanks...I'm going to remember this !

pj94z wrote:If 1/2 of the money in a trust fund is invested in stocks, 1/4 in bonds, 1/5 in mutual funds, and the remaining $12,000 is in a bank, what is the total amount of the whole fund ?

lets have some fun with this...

You can tweak this problem a bit and it ll change altogether.
Say

If 1/2 of the money in a trust fund is invested in stocks and 1/4 in bonds and 1/5 in mutual funds of the remaining, $12,000 remains which is stored in a bank, what is the total amount of the whole fund ?

wanna solve now? 8)

If 1/2 of the money in a trust fund is invested in stocks, 1/4 in bonds, 1/5 in mutual funds, and the remaining $12,000 is in a bank, what is the total amount of the whole fund ?

a. 110k
b. 125k
c. 180k
d. 210k
e. 240k

1x/2 + 1x/5 + 1x/4 + 12000 = x

Therefore (10x + 4x + 5x)/20 + 12,000 = x

19x/20 + 12000 = x

X = 12,000 * 20 = 240,000

Half of the money invested in the stock
$$\frac{1}{4}$$ is invested in bonds
$$\frac{1}{5}$$ is invested in mutual funds.
The rest of a bank (12000)
LEt the amount of the whole fund be $x
The total fraction invested is =
$$\frac{1}{2}$$ + $$\frac{1}{4}$$ + $$\frac{1}{5}$$ = $$\frac{10+5+4}{20}$$ = $$\frac{19}{20}$$

The fraction of the fund in bank is,
1 - $$\frac{19}{20}$$ = $$\frac{20-19}{20}$$ $$\frac{1}{20}$$
This means that $$\frac{1}{20}$$ * x = 12000
x = 12000 * 20 = 24000.
Therefore the amount of the whole funds is 240k