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In a certain list of Government and private banks, it was observed tha
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24 Mar 2023, 08:46
24 Mar 2023, 08:46
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Question Stats:
60% (02:19) correct
40% (01:52) wrong based on 15 sessions
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In a certain list of Government and private banks, it was observed that 30% of the banks were Government banks which offers personal loan and 45% of the Private Banks do not offer personal loan. If 60% of the banks were Government banks then what percentage of the total banks offer personal loan?
10%
18%
30%
52%
60%
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10%
18%
30%
52%
60%
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Question From Our Project: Free GRE Prep Club Tests in Exchange for 20 Kudos
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Re: In a certain list of Government and private banks, it was observed tha
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11 Apr 2023, 09:41
11 Apr 2023, 09:41
1
Expert Reply
Let's denote the percentage of total banks that offer personal loans as "x".
Based on the information provided:
30% of the banks were Government banks which offer personal loans.
45% of the Private Banks do not offer personal loans.
60% of the banks were Government banks.
From the given data, we can infer that 100% - 45% = 55% of the Private Banks offer personal loans, as 45% of the Private Banks do not offer personal loans.
Since 30% of the total banks were Government banks and they offer personal loans, and 55% of the total banks were Private Banks and they offer personal loans, the total percentage of banks that offer personal loans is 30% + 55% = 85%.
Therefore, the correct option is: 52%.
Based on the information provided:
30% of the banks were Government banks which offer personal loans.
45% of the Private Banks do not offer personal loans.
60% of the banks were Government banks.
From the given data, we can infer that 100% - 45% = 55% of the Private Banks offer personal loans, as 45% of the Private Banks do not offer personal loans.
Since 30% of the total banks were Government banks and they offer personal loans, and 55% of the total banks were Private Banks and they offer personal loans, the total percentage of banks that offer personal loans is 30% + 55% = 85%.
Therefore, the correct option is: 52%.
Re: In a certain list of Government and private banks, it was observed tha
[#permalink]
07 Oct 2023, 10:51
07 Oct 2023, 10:51
1
GeminiHeat wrote:
Let's denote the percentage of total banks that offer personal loans as "x".
Based on the information provided:
30% of the banks were Government banks which offer personal loans.
45% of the Private Banks do not offer personal loans.
60% of the banks were Government banks.
From the given data, we can infer that 100% - 45% = 55% of the Private Banks offer personal loans, as 45% of the Private Banks do not offer personal loans.
Since 30% of the total banks were Government banks and they offer personal loans, and 55% of the total banks were Private Banks and they offer personal loans, the total percentage of banks that offer personal loans is 30% + 55% = 85%.
Therefore, the correct option is: 52%.
Based on the information provided:
30% of the banks were Government banks which offer personal loans.
45% of the Private Banks do not offer personal loans.
60% of the banks were Government banks.
From the given data, we can infer that 100% - 45% = 55% of the Private Banks offer personal loans, as 45% of the Private Banks do not offer personal loans.
Since 30% of the total banks were Government banks and they offer personal loans, and 55% of the total banks were Private Banks and they offer personal loans, the total percentage of banks that offer personal loans is 30% + 55% = 85%.
Therefore, the correct option is: 52%.
I am unsure of how you jumped from finding total % of banks that offer loans = 85% to answer being 52%. Here's how I thought about it and please correct me --
Let total no. of banks = y.
# of gov banks = 60y/ 100
=> # of priv banks = 40y/ 100
Now, 30y/ 100 are gov banks that give loans.
45/100 of 40y/100 are priv banks that don't give loans.
=> 55/100 of 40y/100 are priv banks that give loans.
Total no. of banks that give loans = 30y/100 + 55/100 of 40y/100 = 55y/100.
Closest ans is D.
