financial roles

Expert replies

logitech: Legendary Member; Posts: 2134; Joined: Mon Oct 20, 2008 11:26 pmFollowed by: 25 members; Thanked: 237 times; GMAT Score:730

by logitech » Sat Nov 29, 2008 1:34 pm

According to a recent study on financial roles, one-third of high school seniors say that they have “significant financial responsibilities.” These responsibilities include, but are not limited to, contributing to food, shelter, or clothing for themselves or their families. At the same time, a second study demonstrates that a crisis in money management exists for high school students. According to this study, 80% of high school seniors have never taken a personal finance class even though the same percentage of seniors has opened bank accounts and one-third of these account holders has bounced a check.

Which of the following conclusions can be properly drawn from the statements above?

High schools would be wise to incorporate personal finance classes into their core curricula.

At least one-third of high school seniors work part-time jobs after school.

The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.

Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.

The majority of high school students have no financial responsibilities to their families.

LGTCH
---------------------
"DON'T LET ANYONE STEAL YOUR DREAM!"

Source: Beat The GMAT — Critical Reasoning | Sat Nov 29, 2008 1:34 pm

Tryingmybest: Master | Next Rank: 500 Posts; Posts: 168; Joined: Thu Nov 13, 2008 4:34 am; Location: Pittsburgh; Thanked: 9 times

by Tryingmybest » Sat Nov 29, 2008 1:44 pm

IMO C
High schools would be wise to incorporate personal finance classes into their core curricula. -- Too extreme to draw this conclusion

At least one-third of high school seniors work part-time jobs after school. - Out of scope

The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
In a class of 100 seniors (33 <1/3 of 100>people with financial responsibilities)80 have bank accounts and 27( 1/3 of 80 of them have a bounced check.27 is less than 33
Correct.
Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities. extreme

The majority of high school students have no financial responsibilities to their families. extreme

dmateer25: Community Manager; Posts: 1049; Joined: Sun Apr 06, 2008 5:15 pmFollowed by: 27 members; Location: Pittsburgh, PA; Thanked: 113 times; GMAT Score:710

by dmateer25 » Sat Nov 29, 2008 1:47 pm

This seems like a quantitative question to me!

Let's examine the information given:
According to a recent study on financial roles, one-third of high school seniors say that they have “significant financial responsibilities.”

According to a 2nd study, 80% of high school seniors have never taken a personal finance class even though the same percentage of seniors has opened bank accounts and one-third of these account holders has bounced a check

I like answer choice C.

1/3 of seniors say they have significant financial responsibilities.
80% of seniors have never taken a personal finance class, and 1/3 of the 80% has bounced a check.

So 33% of seniors have significant financial responsibilities and approximately 27% of seniors have bounced a check.

The number of high school seniors with significant financial responsibilities (33%) is greater than the number of seniors who have bounced a check (27%).

cramya: Legendary Member; Posts: 2467; Joined: Thu Aug 28, 2008 6:14 pmFollowed by: 11 members; Thanked: 331 times

by cramya » Sat Nov 29, 2008 1:49 pm

High schools would be wise to incorporate personal finance classes into their core curricula.

No mention of high schoosl in the passage irrelevent

At least one-third of high school seniors work part-time jobs after school.

No mention of this at all. Irreleveant

The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.

This is the conslcusion since 1/3*100 > 1/3*80. C)

Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.

The passage clearly says not limited to so this cant be a proper conclusion

The majority of high school students have no financial responsibilities to their families.

The passage provides details about high school seniors in particular whereas the statement above is referrin to the high school students in general. Not a conclusion

logitech: Legendary Member; Posts: 2134; Joined: Mon Oct 20, 2008 11:26 pmFollowed by: 25 members; Thanked: 237 times; GMAT Score:730

by logitech » Sat Nov 29, 2008 9:26 pm

cramya wrote:High schools would be wise to incorporate personal finance classes into their core curricula.

No mention of high schoosl in the passage irrelevent

At least one-third of high school seniors work part-time jobs after school.

No mention of this at all. Irreleveant

The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.

This is the conslcusion since 1/3*100 > 1/3*80. C)

Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.

The passage clearly says not limited to so this cant be a proper conclusion

The majority of high school students have no financial responsibilities to their families.

The passage provides details about high school seniors in particular whereas the statement above is referrin to the high school students in general. Not a conclusion

I finally attracted Cramya from Mathland to Verballand. The trick was simply using some numbers in the question

Good work Cramya. Welcome to Verbal land. And please read the tip of the day.

LGTCH
---------------------
"DON'T LET ANYONE STEAL YOUR DREAM!"

cramya: Legendary Member; Posts: 2467; Joined: Thu Aug 28, 2008 6:14 pmFollowed by: 11 members; Thanked: 331 times

by cramya » Sat Nov 29, 2008 9:33 pm

Thanks Logitech!

As pointed out by me earlier, the "tip of the day" post is a great intiative! Keep up the good work and I will try add on to it if I come across something useful!

kris77: Master | Next Rank: 500 Posts; Posts: 300; Joined: Sat Aug 22, 2015 10:33 am

by kris77 » Thu May 12, 2016 1:18 pm

It seems to me that the right answer is C

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