Each week Manhattan GMAT posts a GMAT question on our blog and follows up with the answer the next day. Are you up for the challenge?
Each of three investments has a 20% of becoming worthless within a year of purchase, independently of what happens to the other two investments. If Simone invests an equal sum in each of these three investments on January 1, the approximate chance that by the end of the year, she loses no more than 1/3 of her original investment is
(A) 90%
(B) 80%
(C) 70%
(D) 60%
(E) 40%