BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the same

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Moderator
Posts: 7187
Joined: Thu Sep 07, 2017 4:43 pm
Followed by:23 members

Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the same

by BTGmoderatorDC » Thu Jun 16, 2022 6:41 am

Timer

00:00

Your Answer

A

B

C

D

E

Global Stats

Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the same time, Marla deposited another amount in Account B at a 4% simple annual interest rate. If there were no withdrawals or deposits during the 10 years since the deposits, is the current interest in A greater than that in B?

(1) The amount invested in Account A was $1,000 more than the amount invested in Account B.

(2) The investment in Account A obtained interest of $300 last year.


OA C

Source: EMPOWERgmat
Top
Source: — Data Sufficiency |
Legendary Member
Posts: 2499
Joined: Sun Oct 29, 2017 2:04 pm
Followed by:6 members

Re: Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the

by swerve » Fri Jun 17, 2022 9:16 am

Timer

00:00

Your Answer

A

B

C

D

E

Global Stats

BTGmoderatorDC wrote: ↑
Thu Jun 16, 2022 6:41 am
 Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the same time, Marla deposited another amount in Account B at a 4% simple annual interest rate. If there were no withdrawals or deposits during the 10 years since the deposits, is the current interest in A greater than that in B?

(1) The amount invested in Account A was $1,000 more than the amount invested in Account B.

(2) The investment in Account A obtained interest of $300 last year.


OA C

Source: EMPOWERgmat
Interest (D) \(= \dfrac{D\cdot 3\cdot 10}{100}\)

Interest (M) \(= \dfrac{M\cdot 4\cdot 10}{100}\)

Statements:

(1) The amount invested in Account A was $1,000 more than the amount invested in Account B.
\(D = M + 1000\). Insufficient \(\Large{\color{red}\chi}\)

(2) The investment in Account A obtained interest of $300 last year.
\(\dfrac{3D}{100} = 300\)
\(D = 10000\)
Nothing about M. Insufficient \(\Large{\color{red}\chi}\)

Combining, we get
\(D = M +1000 \,\&\, D = 10000\). Sufficient \(\Large{\color{green}\checkmark}\)

Hence, C
Top
Post new topic Post Reply
• Page 1 of 1