PSAT Math Multiple-Choice Practice Question 829
Question: 829
The tables below show an investor's percentage allocation in a portfolio. The first table shows the summary of investment types in the portfolio in the year 2000. The second table shows the summary of investment types in the portfolio in the year 2020.
If the total value of the investment portfolio in 2000 was $80,000 and the total value of it in 2020 was $200,000, by approximately how much did the amount invested in bonds increase from 2000 to 2020?
Correct Answer: C
Explanation:
(C) Bonds represented 30% of the 2000 portfolio and 22% of the 2020 portfolio. You can find the increase in bonds by subtracting the 2000 bond amount from the 2020 bond amount:
(0.22 × 200,000) - (0.3 × 80,000) = 20,000
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