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

Redeem

343. Mark is playing poker at a casino. Mark starts playing

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
User avatar
Master | Next Rank: 500 Posts
Posts: 298
Joined: Sun Jun 03, 2012 6:42 am
Location: New delhi
Thanked: 10 times
Followed by:7 members
GMAT Score:590

343. Mark is playing poker at a casino. Mark starts playing

by varun289 » Sun Dec 16, 2012 11:36 am
343. Mark is playing poker at a casino. Mark starts playing with 140 chips, 20% of which are $100 chips and 80% of which are $20 chips. For his first bet, Mark places chips, 10% of which are $100 chips, in the center of the table. If 70% of Mark's remaining chips are $20 chips, how much money did Mark bet?
A. $1,960
B. $1,740
C. $1,540
D. $3,080
E. $2,640
Top
Source: — Problem Solving |
Master | Next Rank: 500 Posts
Posts: 131
Joined: Wed Nov 14, 2012 2:01 pm
Thanked: 39 times
Followed by:2 members

by puneetkhurana2000 » Sun Dec 16, 2012 2:24 pm
Need to rush for a party, so just posting the final eqn..

70/100(140-x) = 112 - 0.9*x .. Solving we get x = 70 ( x represents the number of chips he bet)

Of these 10% are $100 and 90% are $20 , so Value of bet = (10% of 70) * (100) + (90% of 70) * (20) = 1960.

Answer A.

Sorry for not writing all down!!! :-(
Top
Newbie | Next Rank: 10 Posts
Posts: 5
Joined: Mon Mar 04, 2013 10:17 am

by jona55ssn » Mon Mar 04, 2013 3:17 pm
Answer ia option A.

Once dealt at a very heavy roulette action casino.
Was struggling with large straight up bets...i.e 16 straight up had a dealer give me a shortcut it was awesome!!!
any straight up bet cut in half x 7 add a zero this is the payout.
example 12 straight up half of 12 is 6 x 7 is 42 add zero pays 420..64 straight up half is 32 x7 is 2240. and yes i had a guy bet 59 chips straight up on 17 and yes i did hit it...floor person was wrong on payout and pissed.i however got a nice tip 100.00... cause i rounded up to 60 by half is 30 which is 2100 minus 35 pays 2065.....impressed casino director too!!!
Top

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 3835
Joined: Fri Apr 02, 2010 10:00 pm
Location: Milpitas, CA
Thanked: 1854 times
Followed by:523 members
GMAT Score:770

by Anurag@Gurome » Mon Mar 04, 2013 9:42 pm
varun289 wrote:343. Mark is playing poker at a casino. Mark starts playing with 140 chips, 20% of which are $100 chips and 80% of which are $20 chips. For his first bet, Mark places chips, 10% of which are $100 chips, in the center of the table. If 70% of Mark's remaining chips are $20 chips, how much money did Mark bet?
Initially Mark had (0.2*140) = 28 chips of $100 and (140 - 28) = 112 chips of $20
Let us assume Mark placed N chips for the first bet.
Hence, he placed N/10 chips of $100 for the first bet.
Now, 30% of remaining chips = 3(140 - N)/10 chips are of $100.

So, N/10 + 3(140 - N)/10 = 28
--> N + 420 - 3N = 280
--> 2N = (420 - 280) = 140
--> N = 70

Hence, Mark placed 7 chips of $100 and (70 - 7) = 63 chips of $20 for the first bet.
That means he placed $[(7*100) + (63*20)] = $[700 + 1260] = $1960 for the bet.

The correct answer is A.
Anurag Mairal, Ph.D., MBA
GMAT Expert, Admissions and Career Guidance
Gurome, Inc.
1-800-566-4043 (USA)

Join Our Facebook Groups
GMAT with Gurome
https://www.facebook.com/groups/272466352793633/
Admissions with Gurome
https://www.facebook.com/groups/461459690536574/
Career Advising with Gurome
https://www.facebook.com/groups/360435787349781/
Top
Post new topic Post Reply
• Page 1 of 1