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Banking Account Comparison

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by GmatKiss » Fri Oct 28, 2011 1:40 pm
Peter's bank account has p dollars. John's bank account has 5 times what Peter's bank account has and 1/3 what Fred's bank account has. How much more is in Fred's bank account than is in Peter's bank account, in terms of p?
A) 15p
B) 14p
C) 4p
D) (2/3)p
E) (1/3)p
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by bhavsk9 » Fri Oct 28, 2011 3:10 pm
We can use numbers for variables and solve by plugging in.

If p = $10 , then John's account has $50. Also, 50 = (1/3)(Fred's account).
Therefore Fred = $150.

Fred - Peter = $140 = 14p

Ans: B
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by neelgandham » Fri Oct 28, 2011 3:22 pm
GmatKiss wrote:Peter's bank account has p dollars. John's bank account has 5 times what Peter's bank account has and 1/3 what Fred's bank account has. How much more is in Fred's bank account than is in Peter's bank account, in terms of p?
A) 15p
B) 14p
C) 4p
D) (2/3)p
E) (1/3)p
Let the amount present in the bank accounts of Peter, John and Fred be P,J,F respectively

Given J = 5*P = (1/3)*F => F =15P Question is..What is the value of F-P = [spoiler]15P-P = 14P[/spoiler] Option B
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