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Gmat Prep Interest Rate...

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Source: — Data Sufficiency |
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by moneyman » Tue Apr 29, 2008 8:43 am
Answer should be A
Maxx
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by codesnooker » Tue Apr 29, 2008 8:47 pm
Okay the simplest trick to solve this question is to determine the boundary value. i.e. what would be the interest amount at 8% rate of interest.

If you compute the interest amount, it will come out 166.4

So clearly statement 1 is alone sufficient.

For statement 2nd, take the least possible value of expression (1+r/100)^2 = 1.15

When you will compute the amount of interest then it will be 150. So it means that rate of interest can be or it can not be greater than 8%, which is ambiguous. So, it is not sufficient.

Hence IMO: (A)
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by akshatsingh » Sun May 04, 2008 9:11 pm
Why cant the the rate of interest be found ? we can sqrt(1.15). subtract this from 1 and obtain the rate.

Am i missing something ?

My answer is D

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