GMAT Problem Solving
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Source: Princeton
Level: 5
Kyle has convinced his client to invest $10,000 in a mutual fund. Kyle projects gains of 20 percent for the first year and 10 percent for the second year. If at the end of the two year period, the value of mutual fund has actually decreased by 1 percent, what percent of the projected value of the investment was the actual value of the investment?
- A 33
- B 44
- C 75
- D 76
- E 99