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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Gmat_mission: Legendary Member; Posts: 1622; Joined: Thu Mar 01, 2018 7:22 amFollowed by: 2 members

by Gmat_mission » Wed Sep 23, 2020 5:46 am

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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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Source: Beat The GMAT — Problem Solving | Wed Sep 23, 2020 5:46 am

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Scott@TargetTestPrep: GMAT Instructor; Posts: 8155; Joined: Sat Apr 25, 2015 10:56 amFollowed by: 29 members; Location: Los Angeles, CA; Thanked: 43 times

Re: If $0.497$ mark has the value of one dollar, what is the value to the nearest dollar of $350$ marks?

by Scott@TargetTestPrep » Mon Sep 28, 2020 11:49 am

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

Scott Woodbury-Stewart
Founder and CEO
[email protected]

See why Target Test Prep is rated 5 out of 5 stars on BEAT the GMAT. Read our reviews

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swerve: Legendary Member; Posts: 2545; Joined: Sun Oct 29, 2017 2:04 pmFollowed by: 6 members

Re: If $0.497$ mark has the value of one dollar, what is the value to the nearest dollar of $350$ marks?

by swerve » Tue Sep 29, 2020 12:46 pm

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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Brent@GMATPrepNow: GMAT Instructor; Posts: 16207; Joined: Mon Dec 08, 2008 6:26 pmFollowed by: 1268 members; Location: Vancouver, BC; Thanked: 5254 times; GMAT Score:770

Re: If $0.497$ mark has the value of one dollar, what is the value to the nearest dollar of $350$ marks?

by Brent@GMATPrepNow » Wed Sep 30, 2020 5:23 am

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

Brent Hanneson - Creator of GMATPrepNow.com

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