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Ann deposited money into two new accounts, \(A\) and \(B.\) Account \(A\) earns \(5\) percent simple annual interest,

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by VJesus12 » Thu Jun 24, 2021 11:50 am

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Ann deposited money into two new accounts, \(A\) and \(B.\) Account \(A\) earns \(5\) percent simple annual interest, and account \(B\) earns \(8\) percent simple annual interest. If there were no other transactions in the two accounts, then the amount of interest that account \(B\) earned in the first year was how many dollars greater than the amount of interest that account \(A\) earned in the first year?

(1) Ann deposited \(\$200\) more in account \(B\) than in account \(A.\)
(2) The total amount of interest that the two accounts earned in the first year was \(\$120.\)

Answer: C

Source: GMAT Prep
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