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
40 hours of live online classes plus six months of access to the complete TTP EA OnDemand course.
  • 165+ EA Score Guarantee
  • 4,100+ Quant, Verbal, and Integrated Reasoning practice questions
  • 400+ hours of in-depth video lessons
  • 3,000+ step-by-step video solutions
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.

715+ 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

Expert replies
Post new topic Post Reply
Previous Topic Next Topic
Senior | Next Rank: 100 Posts
Posts: 59
Joined: Thu May 05, 2016 4:20 am
Thanked: 3 times
by Joy Shaha » Fri Nov 18, 2016 1:14 pm
Q. The annual interest rate earned by an investment increased by 10 percent
from last year to this year. If the annual interest rate earned by the
investment this year was 11 percent, what was the annual interest rate last
year?

A) 1% B) 1.1% C) 9.1% D) 10% E) 10.8%
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Source: — Problem Solving |
User avatar
Legendary Member
Posts: 2663
Joined: Wed Jan 14, 2015 8:25 amFollowed by: 128 members
Location: Boston, MA
Thanked: 1153 times
GMAT Score:770

by DavidG@VeritasPrep » Fri Nov 18, 2016 2:31 pm
Joy Shaha wrote:Q. The annual interest rate earned by an investment increased by 10 percent
from last year to this year. If the annual interest rate earned by the
investment this year was 11 percent, what was the annual interest rate last
year?

A) 1% B) 1.1% C) 9.1% D) 10% E) 10.8%
Call last year's interest rate: x.
If it increased by 10%, it increased by .1x
This year's interest rate = x +.1x = 1.1x; we know this is 11 percent, so 1.1x = 11; x = 10; Answer is D
Veritas Prep | GMAT Instructor

Veritas Prep Reviews
Save $100 off any live Veritas Prep GMAT Course
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 3008
Joined: Mon Aug 22, 2016 6:19 amFollowed by: 34 members
Location: Grand Central / New York
Thanked: 470 times

by Jay@ManhattanReview » Tue Jan 10, 2017 12:05 am
Joy Shaha wrote:Q. The annual interest rate earned by an investment increased by 10 percent
from last year to this year. If the annual interest rate earned by the
investment this year was 11 percent, what was the annual interest rate last
year?

A) 1% B) 1.1% C) 9.1% D) 10% E) 10.8%
Rate this year = Rate last year + 10%

=> 11% = 100% of Rate last year + 10% of Rate last year

=> 11% = 110% of Rate last year

=> Rate last year = (11/110)*100% = 10%.

Answer: D

-Jay
_________________
Manhattan Review GMAT Prep

Locations: New York | Tokyo | Manchester | Geneva | and many more...

Schedule your free consultation with an experienced GMAT Prep Advisor! Click here.
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 2095
Joined: Tue Dec 04, 2012 3:22 pmFollowed by: 247 members
Thanked: 1443 times

by ceilidh.erickson » Tue Jan 10, 2017 2:28 pm
Note that this question has a classic trap! If you found yourself saying "11 - 10 = 1, so the answer is A," you fell for the trap.

Here's a rule of thumb that I give my students: There's no such thing as a ONE-MOVE answer! Any answer that you get to by doing one simple bit of arithmetic (e.g. just subtracting 2 numbers, as above) is almost certainly a trap answer. Trust your instincts if you think "hm, that was too easy." Reread the question and see if you missed something.
Ceilidh Erickson
EdM in Mind, Brain, and Education
Harvard Graduate School of Education
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Post new topic Post Reply
• Page 1 of 1