Dick and Jane each saved $\$3,000$ in $1989.$ In $1990$ Dick saved $8$ percent more than in $1989,$ and togeth

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by Gmat_mission » Wed Mar 24, 2021 8:04 am

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Dick and Jane each saved $\$3,000$ in $1989.$ In $1990$ Dick saved $8$ percent more than in $1989,$ and together he and Jane saved a total of $\$5,000.$ Approximately what percent less did Jane save in $1990$ than in $1989?$

A. $8\%$
B. $25\%$
C. $41\%$
D. $59\%$
E. $70\%$

Answer: C

Source: GMAT Prep

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Re: Dick and Jane each saved $\$3,000$ in $1989.$ In $1990$ Dick saved $8$ percent more than in $1989,$ and to

by Brent@GMATPrepNow » Thu Mar 25, 2021 2:15 pm

Gmat_mission wrote: ↑
Wed Mar 24, 2021 8:04 am
Dick and Jane each saved $\$3,000$ in $1989.$ In $1990$ Dick saved $8$ percent more than in $1989,$ and together he and Jane saved a total of $\$5,000.$ Approximately what percent less did Jane save in $1990$ than in $1989?$

A. $8\%$
B. $25\%$
C. $41\%$
D. $59\%$
E. $70\%$

Answer: C

Source: GMAT Prep

In 1990, Dick saved 8 percent more than in 1989
So, Dick's savings in 1990 = 1.08($3000)
= $3240

In 1990, Dick and Jane saved a total of $5,000.
So, Jane's savings = $5,000 - $3240
= $1760

Approximately what percent less did Jane save in 1990 than in 1989?
In 1989, Jane saved $3000
$3000 - $1760 = $1240

ASIDE: We COULD convert $1240/$3000 to a percent, but that's no fun!
A faster approach is to use the answer choices to our advantage (ALWAYS check the answer choices before performing any calculations)
Notice that $1500/$3000 = 1/2 = 50%
So, $1240/$3000 must be a little less than 50%

Check the answer choices . . . . only C works

Answer: C

Brent Hanneson - Creator of GMATPrepNow.com

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