It is currently 10 Dec 2018, 11:21
My Tests

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Of the amount of household financial assets in the six major

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Moderator
Moderator
User avatar
Joined: 18 Apr 2015
Posts: 5126
Followers: 76

Kudos [?]: 1027 [0], given: 4631

CAT Tests
Of the amount of household financial assets in the six major [#permalink] New post 04 Mar 2017, 08:01
Expert's post
00:00

Question Stats:

65% (01:04) correct 35% (00:59) wrong based on 20 sessions


Image

Of the amount of household financial assets in the six major asset categories in 1990, approximately what fraction was in bank accounts?

A) \(\frac{1}{7}\)

B) \(\frac{1}{6}\)

C) \(\frac{1}{4}\)

D) \(\frac{1}{3}\)
E) \(\frac{1}{2}\)
_________________

Get the 2 FREE GREPrepclub Tests

1 KUDOS received
GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 07 Jun 2014
Posts: 4749
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 93

Kudos [?]: 1651 [1] , given: 396

CAT Tests
Re: Of the amount of household financial assets in the six major [#permalink] New post 10 Mar 2017, 16:58
1
This post received
KUDOS
Expert's post
Explanation

the approximate percentage total of the six major asset totals (ignoring the “all others” category, as the graphic explains this category is not one of the six major asset categories). You will need to approximate each total:







Bank accounts19%
Bonds13%
Cert. of deposits10%
Mutual funds5%
Retirement Accts22%
Stocks15%
Total:84%


Assets in bank accounts is what fraction of the total six major assets?

19 is what fraction of 84

Answer = \(\frac{19}{84}\)

Hence option C is the closest to the answer.
_________________

Sandy
If you found this post useful, please let me know by pressing the Kudos Button

Try our free Online GRE Test

2 KUDOS received
Intern
Intern
Joined: 04 Jul 2018
Posts: 4
Followers: 0

Kudos [?]: 4 [2] , given: 3

Re: Of the amount of household financial assets in the six major [#permalink] New post 20 Jul 2018, 10:39
2
This post received
KUDOS
A quicker way to find the total of the 6 categories would be to subject "all others" from 10, since the subtitle states that the "all others" category is what is not accounted in the first 6 categories. 100-17.5=82.5. Then take 19/82.5=0.23
Display posts from previous: Sort by

Of the amount of household financial assets in the six major

  Question banks Downloads My Bookmarks Reviews Important topics  


cron

GRE Prep Club Forum Home| About| Terms and Conditions and Privacy Policy| GRE Prep Club Rules| Contact

Powered by phpBB © phpBB Group

Kindly note that the GRE® test is a registered trademark of the Educational Testing Service®, and this site has neither been reviewed nor endorsed by ETS®.