Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and 1/3 of the remaining funds have 4-star ratings. If the remaining 300 funds on the list have 3-star ratings, how many funds are on the list?
Pick:
A) 500
B) 750
C) 1,000
D) 1,200
E) 900
900   Fraction of 5- and 4-star funds: 1/3 + (1/3)*(2/3) = 1/3 + 1/3 = 2/3   Fraction of 3-star funds = 1 - 2/3 = 1/3   (1/3)*Total = 300   Total = 900
<result>E</result>
Of the mutual funds on a “select list,” 1/3 have 5-star ratings, and 1/3 of the remaining funds have 4-star ratings. If the remaining 300 funds on the list have 3-star ratings, how many funds are on the list?