If \(0.497\) mark has the value of one dollar, what is the value to the nearest dollar of \(350\) marks?

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If \(0.497\) mark has the value of one dollar, what is the value to the nearest dollar of \(350\) marks?

A. \(\$174\)
B. \(\$176\)
C. \(\$524\)
D. \(\$696\)
E. \(\$704\)

Answer: E

Source: Official Guide

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Gmat_mission wrote:
Wed Sep 23, 2020 5:46 am
If \(0.497\) mark has the value of one dollar, what is the value to the nearest dollar of \(350\) marks?

A. \(\$174\)
B. \(\$176\)
C. \(\$524\)
D. \(\$696\)
E. \(\$704\)

Answer: E

Source: Official Guide
Solution:

The value of 350 marks in dollars is 350/0.497, which is approximately 350/0.5 = 700. Since 0.497 is slightly less than 0.5, 350/0.497 should be slightly greater than 350/0.5 = 700. Therefore, the correct answer is $704.

Answer: E

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Gmat_mission wrote:
Wed Sep 23, 2020 5:46 am
If \(0.497\) mark has the value of one dollar, what is the value to the nearest dollar of \(350\) marks?

A. \(\$174\)
B. \(\$176\)
C. \(\$524\)
D. \(\$696\)
E. \(\$704\)

Answer: E

Source: Official Guide
Consider this:
\(0.497\) marks \(= \$1\);

\(0.5\) marks \(=\) more than \(\$1\);

\(0.5\cdot 700=350\) marks \(=\) more than \(\$1\cdot 700= \$700\).

Therefore, the correct answer is E

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Gmat_mission wrote:
Wed Sep 23, 2020 5:46 am
If \(0.497\) mark has the value of one dollar, what is the value to the nearest dollar of \(350\) marks?

A. \(\$174\)
B. \(\$176\)
C. \(\$524\)
D. \(\$696\)
E. \(\$704\)

Answer: E

Source: Official Guide
Since we are comparing marks with dollars, can solve the question using equivalent ratios

We'll use the ratio marks/dollars

Let x = the number of dollars equivalent to 350 marks

We can write: 0.497/1 = 350/x
Cross multiply to get: 0.497x = 350
Solve:x = 350/0.497

Important: Do NOT use long division to evaluate 350/0.497 (the test-makers do not care about your ability to be a human calculator)

Notice that 350/0.5 = 700
Since 0.497 is a little bit less than 0.5, we can conclude that 350/0.497 is a little bit bigger than 700

Answer: E
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