Hello,
I am unable to understand this question. I got this from Barron's flashcards.
35% of a certain amount of money was invested in stocks. Of the remaining amount of money, 50% was used to buy bonds, and $975 was put in a savings account. Find the initial amount of money,
A. $2,000
B. $2,500
C. $3,000
D. $3,500
E. $4,000
I understood till (50/100) (65/100) x
I didn't understand how to use $975.
Can somebody explain?
x represents total amount
Thanks!
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Data Sufficiency Question
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sparkles3144
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Could be one of two things, right?sparkles3144 wrote:Hello,
I am unable to understand this question. I got this from Barron's flashcards.
35% of a certain amount of money was invested in stocks. Of the remaining amount of money, 50% was used to buy bonds, and $975 was put in a savings account. Find the initial amount of money,
A. $2,000
B. $2,500
C. $3,000
D. $3,500
E. $4,000
I understood till (50/100) (65/100) x
I didn't understand how to use $975.
Can somebody explain?
x represents total amount
Thanks!
TOTAL = 35% + 50% + $975 (15%) ...
or
TOTAL = 35% + (50% * 65%) + $975 (which is 50% * 35%)
What do you think?
-Brian
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Brent@GMATPrepNow
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Let x = initial amountsparkles3144 wrote:Hello,
I am unable to understand this question. I got this from Barron's flashcards.
35% of a certain amount of money was invested in stocks. Of the remaining amount of money, 50% was used to buy bonds, and $975 was put in a savings account. Find the initial amount of money,
A. $2,000
B. $2,500
C. $3,000
D. $3,500
E. $4,000
I understood till (50/100) (65/100) x
I didn't understand how to use $975.
Can somebody explain?
x represents total amount
Thanks!
35% of a certain amount of money was invested in stocks
This leaves 65% of the money.
So, the remaining money = 0.65x
Of the remaining amount of money, 50% was used to buy bonds
So, half of the 0.65x dollars was spent on bonds, and the other half was put in a savings account.
In other words, the amount spent on bonds = (0.5)(0.65x) = 0.325x
Similarly, the amount put in a savings account = 0.325x
$975 was put in a savings account.
0.325x = 975
x = 975/0.325
x = 3000
Answer = C
Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
