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In 1998, 5 if of the amount of household financial assets in

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In 1998, 5 if of the amount of household financial assets in [#permalink] New post 04 Mar 2017, 07:58
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77% (02:32) correct 22% (03:08) wrong based on 9 sessions


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In 1998, if \(\frac{2}{5}\) of the amount of household financial assets in bank accounts was in checking accounts, approximately what percent of all household financial assets was in checking accounts?

A) 5%

B) 10%

C) 15%

D) 20%

E) 25%
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Last edited by sandy on 09 Mar 2017, 19:35, edited 1 time in total.
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Re: In 1998, 5 if of the amount of household financial assets in [#permalink] New post 09 Mar 2017, 19:34
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Explanation

The amount of financial assets in checking accounts in 1998 is about 12%, which you can gather by reading the bar graph.

If 2/5 of that 12% is checking accounts, what is the resulting percentage?

\(\frac{2}{5} \times 12% = 4.8%\).

Since the question asks for an approximate percentage, 5% is the best answer. Hence option A is correct.
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