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Of the amount of household financial assets in the six major

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Of the amount of household financial assets in the six major [#permalink] New post 04 Mar 2017, 08:01
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53% (01:20) correct 46% (01:21) wrong based on 75 sessions


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#GREpracticequestion Of the amount of household financial assets.jpg
#GREpracticequestion Of the amount of household financial assets.jpg [ 97.04 KiB | Viewed 6686 times ]


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) \(\frac{1}{2}\)
[Reveal] Spoiler: OA

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Re: Of the amount of household financial assets in the six major [#permalink] New post 10 Mar 2017, 16:58
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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.
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Re: Of the amount of household financial assets in the six major [#permalink] New post 20 Jul 2018, 10:39
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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
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Re: Of the amount of household financial assets in the six major [#permalink] New post 12 Jan 2019, 13:12
The answer another 1/7
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