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In 1998 the amount of household financial assets in mutual f

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In 1998 the amount of household financial assets in mutual f [#permalink] New post 04 Mar 2017, 08:01
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66% (01:56) correct 33% (00:22) wrong based on 12 sessions


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In 1998 the amount of household financial assets in mutual funds was x million dollars. Which of the following is closest to the amount, in terms of x, of household financial assets in bonds that year?

A)\(\frac{2}{5} x\) million dollars

B) \(\frac{4}{7}x\) million dollars

C) \(\frac{3}{5} x\) million dollars

D) \(\frac{2}{3}\)x million dollars

E) \(\frac{5}{2}x\) million dollars
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Re: In 1998 the amount of household financial assets in mutual f [#permalink] New post 10 Mar 2017, 16:51
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Explanation

The amount of financial assets in mutual funds in 1998 is just shy of 13%, while the amount in bonds in 1998 is 5%.

Let 13% represents x million dollars and 5% represent y million dollars.

So we can say

\(\frac{Millions}{Percent} = \frac{x}{13} = \frac{y}{5}\).

\(y=\frac{5}{13}x = 0.38x\).

Option A is closest to the answer.
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