Answers
Total Number of Funds = 407
Number of Funds which are either value funds or has average risk = Number of value funds + Number of average risk funds - (Number of value funds with average risk)
=> (25+97+16) + (97+199) - 97
=> 25 + 97 + 16 + 199
=> 337
P(that it is value fund or has average risk) = Number of Funds which are either value funds or has average risk/ Total Number of Funds = 337/407 = 0.828 (approximately 0.83)
Correct answer is Option D (0.83)
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