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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]  04 Mar 2017, 08:01
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65% (01:50) correct 34% (02:23) wrong based on 23 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
[Reveal] Spoiler: OA

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Re: In 1998 the amount of household financial assets in mutual f [#permalink]  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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Re: In 1998 the amount of household financial assets in mutual f [#permalink]  12 Jan 2019, 13:02
sandy wrote:
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.
Intern
Joined: 12 Nov 2018
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Kudos [?]: 0 [0], given: 15

Re: In 1998 the amount of household financial assets in mutual f [#permalink]  12 Jan 2019, 13:02
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