Hi All,
We're told that Dick and Jane EACH saved $3,000 in 1989. In 1990, Dick saved 8 percent MORE than he did in 1989, and TOGETHER he and Jane saved a total of $5,000. We're asked APPROXIMATELY what percent less did Jane save in 1990 than in 1989. This question essentially comes down to the Percent Change Formula and a bit of Arithmetic. The answer choices are relatively 'spread out' though, so you can actually use some general estimation and logic to get to the correct answer without doing too much complex math.
To start, we know that the TOTAL money saved each year between the two people is:
1989: (2)($3000) = $6000
1990: $5000
Even before we discuss Dick's INCREASE in savings, we know that the TOTAL is $1000 less, so Jane has to account for that decrease. If David saved the same amount as he did in 1989, then Jane's savings would have dropped from $3000 to $2000, meaning a $1000 decrease... and that would have been 1000/3000 = 1/3 of her prior savings (re: 33 1/3%).
Dick saved 8% more money, which is LESS than 10% - meaning that his extra savings was a little LESS than $3000(.10) = $300. That extra savings is relatively small - and Jane's decrease would have to account for that approximate $300 as well. Thus, we're looking for a percent decrease that was a bit larger than 33 1/3%, but not so big (such as 59% which is almost double the 33 1/3%). There's only one answer that makes sense...
Final Answer: C
GMAT assassins aren't born, they're made,
Rich
