gmattesttaker2 wrote:
What percent of the combined assets of
hedge funds Aggresinv and Conservinv are
invested in biotechnology stocks?
(1) Hedge fund Aggresinv has 70 percent of
its total assets invested in biotechnology
stocks and hedge fund Conservinv has 40
percent of its total assets invested in
biotechnology stocks.
(2) The Dollar value of the assets managed
by Agressinv and Conservinv are in a ratio
of 2:1.
For a VALUE DS -- a DS problem that asks for a specific value -- one approach is to TEST CASES.
For each statement, consider one case that satisfies BOTH statements and one case that satisfies only the statement being evaluated.
Statement 1:
Case 1: A's assets = 200, C's assets = 100, for a total of $300
Here, the total investment in bio = .7(200) + .4(100) = 180.
Percent invested in bio = 180/300 * 100 = 60%.
Case 2: A's assets = 100, C's assets = 100, for a total of $200.
Here, the total investment in bio = .7(100) + .4(100) = 110.
Percent invested in bio = 110/200 * 100 = 55%.
Since different percents are possible, INSUFFICIENT.
Statement 2:
Case 1 satisfies statement 2.
In this case, percent invested in bio = 60%.
But if both funds invest 100% of their respective assets in bio, the percent invested in bio = 100%.
Since different percents are possible, INSUFFICIENT.
Statements combined:
Case 1 satisfies both statements.
In this case, percent invested in bio = 60%.
Test one more case that satisfies both statements.
Case 4: A's assets = 20, C's assets = 10, for a total of $30
Here, the total investment in bio = .7(20) + .4(10) = 18.
Percent invested in bio = 18/30 * 100 = 60%.
Since Case 1 and Case 4 yield the same percent, SUFFICIENT.
The correct answer is
C.
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