A total of 120 investment advisors work at a particular

BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

This topic has expert replies

Post new topic Post Reply

Previous Topic Next Topic

BTGmoderatorLU: Moderator; Posts: 2505; Joined: Sun Oct 15, 2017 1:50 pm; Followed by:6 members

A total of 120 investment advisors work at a particular

by BTGmoderatorLU » Wed Oct 10, 2018 3:04 pm

Timer

00:00

Your Answer

Global Stats

Source: Princeton Review

A total of 120 investment advisors work at a particular financial services firm, 30 in bonds and the rest in equities. Fifty percent of the investment advisors are board-certified. If one-third of the equities advisors are board-certified, how many bonds advisors are not board-certified?

A. 0
B. 10
C. 15
D. 20
E. 30

The OA is A.

Quote

Source: Beat The GMAT — Problem Solving | Wed Oct 10, 2018 3:04 pm

nonplus2: Junior | Next Rank: 30 Posts; Posts: 25; Joined: Mon May 07, 2018 8:47 am; Location: India; GMAT Score:610

by nonplus2 » Wed Oct 10, 2018 9:27 pm

Let us term Investment advisors as IA, Equity Advisors as EA, Bond Advisors as BA and prefix for Board Certified as C
As per the question,
We have: IA = 120
BA = 30 -- (1)
EA = 120 - 30 = 90

As mentioned, fifty percent of the investment advisors are board-certified.
==> 50% of IA = IAC or
==> IAC = 60
Also, given that one-third of the equities advisors are board-certified
==> (1/3)*EA = EAC
==> EAC = 30
We have to find how many bonds advisors are not board-certified or (BA - BAC)
Since, Certified Investment advisors = Certified equities advisors + Certified bonds advisors
==> IAC = EAC + BAC
==> 60 = 30 + BAC
==> BAC = 30 ---- (2)

From (1) and (2), bonds advisors are not board-certified or (BA - BAC) = 0

Correct Answer is A

Quote

GMAT/MBA Expert

Scott@TargetTestPrep: GMAT Instructor; Posts: 8086; Joined: Sat Apr 25, 2015 10:56 am; Location: Los Angeles, CA; Thanked: 43 times; Followed by:29 members

by Scott@TargetTestPrep » Sat Oct 13, 2018 5:31 pm

BTGmoderatorLU wrote:Source: Princeton Review

A total of 120 investment advisors work at a particular financial services firm, 30 in bonds and the rest in equities. Fifty percent of the investment advisors are board-certified. If one-third of the equities advisors are board-certified, how many bonds advisors are not board-certified?

A. 0
B. 10
C. 15
D. 20
E. 30

We see that 120 x 0.5 = 60 of the advisors are board-certified, and 90 advisors are in equities.

Thus, 90 x (1/3) = 30 of the equities advisors are board-certified, so all 30 of the bonds advisors are board-certified, so there are zero bonds advisors who are not board-certified.

Answer: A

Scott Woodbury-Stewart
Founder and CEO
[email protected]