Among a group of 2500 people, 35 percent invest in municipal bonds, 18 percent…
2024
Among a group of 2500 people, 35 percent invest in municipal bonds, 18 percent invest in oil stocks, and 7 percent invest in both municipal bonds and oil stocks. If 1 person is to be randomly selected from 2500 people, what is the probability that the person selected will be one who invests in municipal bonds but not in oil stocks?
- A.
7/25
- B.
25/3
- C.
18/7
- D.
7/37
Attempted by 1486 students.
Show answer & explanation
Correct answer: A
People who invest in municipal bonds but not in oil stocks = 35% − 7% = 28%.
So the required probability is 28/100 = 7/25.