Two years ago, Arthur gave each of his five children 20 percent of his fortune to invest in any way they saw Fit...

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Source: Manhattan Prep

Two years ago, Arthur gave each of his five children 20 percent of his fortune to invest in any way they saw Fit. In the first year, three of the children, Alice, Bob, and Carol, each earned a profit of 50 percent on their Investments, while two of the children, Dave and Errol, lost 40 percent on their investments. In the second year, Alice and Bob each earned a 10 percent profit, Carol lost 60 percent, Dave earned 25 percent profit, and Errol lost all the money he had remaining. What percentage of Arthur's fortune currently remains?

A. 93%
B. 97%
C. 100%
D. 107%
E. 120%

The OA is A

[Scott@TargetTestPrep]

Source: Manhattan Prep

Two years ago, Arthur gave each of his five children 20 percent of his fortune to invest in any way they saw Fit. In the first year, three of the children, Alice, Bob, and Carol, each earned a profit of 50 percent on their Investments, while two of the children, Dave and Errol, lost 40 percent on their investments. In the second year, Alice and Bob each earned a 10 percent profit, Carol lost 60 percent, Dave earned 25 percent profit, and Errol lost all the money he had remaining. What percentage of Arthur's fortune currently remains?

A. 93%
B. 97%
C. 100%
D. 107%
E. 120%

The OA is A

Solution:

We can let Arthur’s total fortune be $100. Thus each child received $20. Now, let’s determine the amount of money each child has after 2 years.

Alice: 20 x 1.5 x 1.1 = $33

Bob: $33 (since his numbers are identical to those of Alice)

Carol: 20 x 1.5 x 0.4 = $12

Dave: 20 x 0.6 x 1.25 = $15

Errol: $0 (since he lost all of his money)

Therefore, the total they have after 2 years is 33 + 33 + 12 + 15 + 0 = $93, which is 93% of $100.

Answer: A