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

Redeem

Target Test Prep · GMAT

Choose how you want to prepare

Learn live with an expert or move at your own pace. Every option includes the complete TTP study system.

★★★★★5.0559 reviews
GMATLiveTeach 7 seats left
Chris Peckover
NEXT LIVE COHORT

Oct 13 to Jan 7, 2027

with Chris Peckover

Schedule
Tue, Thu · 8:00 to 10:00 PM ET
Included
40 live hours + 6 months of GMAT OnDemand
  • Live instruction and real-time questions
  • Class recordings and assigned practice
View class & enroll
Limited cohort · enrollment openTarget Test Prep
EALiveTeach 5 seats left
Logan Thompson
EXECUTIVE ASSESSMENT

Sep 6 to Dec 6, 2026

with Logan Thompson

Schedule
Sun · 9:30 AM to 12:30 PM ET
Included
Live EA class + 6 months of EA OnDemand
  • Expert-led weekly online sessions
  • EA Masterclass access between classes
View EA class & enroll
Limited cohort · enrollment openTarget Test Prep
GMATOnDemand Start anytime
SELF-PACED MASTERCLASS

Target Test Prep GMAT OnDemand

Complete access from day one. Study on your schedule.

130-point score guarantee
$0to start then $127/mo
  • Personalized study plan and analytics
  • Thousands of lessons and practice questions
Start free 5-day trial
Read 559 reviewsTarget Test Prep

Compare the format, schedule, and included access before enrolling. Prices and seat counts shown reflect the supplied offer details.

Interest rate problem

Expert replies
Post new topic Post Reply
Previous Topic Next Topic
Source: — Problem Solving |
Legendary Member
Posts: 829
Joined: Mon Jul 07, 2008 10:09 pmFollowed by: 3 members
Location: INDIA
Thanked: 84 times

by sudhir3127 » Sat Jul 26, 2008 5:12 am
my Answer is 8d/3

here it goes...

(d * k*2 )/100= 600 .... I ( simple interest = (principal* rate*time)/100)

2dk = 60000
dk = 30000 ( u can ignore the zeros as well)
k= 30000/d

(d*K* 3)/100 = 2400
dk = 80000 ----------------------- II

K= 30000/d*8/3d = 80000
which is equation 2

hence the answer is 8d/3

Use can use plugging in as well..( easier way)

interest is 600 for 2 yrs ..

Assume d = 10000 ( principal)
rate = 3%

in the second case

(d1* 3* 3)/ 100 = 2400

hence d1 = 80000/ 3 = 8d /3

Hope its clear
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Senior | Next Rank: 100 Posts
Posts: 75
Joined: Sun Jun 22, 2008 4:59 am
Thanked: 2 times

by dbart06 » Sat Jul 26, 2008 7:24 am
why do you keep dividing by 100.
simple interest formula is : int=prin * int * time
Where is the 100 coming from?
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Junior | Next Rank: 30 Posts
Posts: 21
Joined: Fri Jul 11, 2008 8:40 am
Thanked: 2 times

by nitingupta5 » Sat Jul 26, 2008 7:26 am
Answer 8d/3

SI =(principal*rate*time)/100

Assume the new principal as P

600= (d*k*2)/100
k = 60000/2d -----(1)

2400 = P * (60000/2d)*3/100 Using the same rate in terms of d

P = 8d/3
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Senior | Next Rank: 100 Posts
Posts: 75
Joined: Sun Jun 22, 2008 4:59 am
Thanked: 2 times

by dbart06 » Sat Jul 26, 2008 7:48 am
Still not clear where you are getting the 100. I have looked at the formula and do not see where you divide by 100.
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Senior | Next Rank: 100 Posts
Posts: 75
Joined: Sun Jun 22, 2008 4:59 am
Thanked: 2 times

by dbart06 » Sat Jul 26, 2008 7:51 am
Never mind. You are writing the formula in a different way. You are dividing by 100 to express the percent. Sorry!

Sometimes its hard to understand the flow of how people explain things.
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Post new topic Post Reply
• Page 1 of 1