Prime lending rate

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LulaBrazilia: Master | Next Rank: 500 Posts; Posts: 116; Joined: Tue Mar 31, 2009 10:50 amFollowed by: 1 member

by LulaBrazilia » Wed Mar 05, 2014 9:18 pm

The prime lending rate is a key rate in the economy; not only are the interest rates on most loans to small and medium-sized businesses tied to the prime, but also on a growing number of consumer loans, including home equity loans.

(A) not only are the interest rates on most loans to small and medium-sized businesses tied to the prime, but also on

(B) tied to the prime are the interest rates not only on most loans to small and medium-sized businesses, but also on

(C) the interest rates not only on most loans to small and medium-sized businesses are tied to the prime, but also

(D) not only the interest rates on most loans to small and medium-sized businesses are tied to the prime, but also on

(E) the interest rates are tied to the prime, not only on most loans to small and medium-sized businesses, but also

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Source: Beat The GMAT — Sentence Correction | Wed Mar 05, 2014 9:18 pm

Patrick_GMATFix: GMAT Instructor; Posts: 1052; Joined: Fri May 21, 2010 1:30 amFollowed by: 98 members; Thanked: 335 times

by Patrick_GMATFix » Wed Mar 05, 2014 9:35 pm

The "not only X but also Y" idiom is among the most popular. In the correct sentence, X and Y must be parallel. The answer is B. I go through the question in detail in the full solution below (taken from the GMATFix App).

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theCodeToGMAT: Legendary Member; Posts: 1556; Joined: Tue Aug 14, 2012 11:18 pmFollowed by: 34 members; Thanked: 448 times; GMAT Score:650

by theCodeToGMAT » Thu Mar 06, 2014 12:18 am

The prime lending rate is a key rate in the economy; not only are the interest rates on most loans to small and medium-sized businesses tied to the prime, but also on a growing number of consumer loans, including home equity loans.

(A) not only are the interest rates on most loans to small and medium-sized businesses tied to the prime, but also on
INCORRECT; we need verb after "but also"

(B) tied to the prime are the interest rates not only on most loans to small and medium-sized businesses, but also on

(C) the interest rates not only on most loans to small and medium-sized businesses are tied to the prime, but also
INCORRECT; we need verb in the part of the sentence after "but also"

(D) not only the interest rates on most loans to small and medium-sized businesses are tied to the prime, but also on
INCORRECT; we need verb in the part of the sentence after "but also"

(E) the interest rates are tied to the prime, not only on most loans to small and medium-sized businesses, but also
INCORRECT; we need "on"

R A H U L

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[email protected]: Elite Legendary Member; Posts: 10392; Joined: Sun Jun 23, 2013 6:38 pmFollowed by: 511 members; Location: Palo Alto, CA; Thanked: 2867 times; GMAT Score:800

by [email protected] » Thu Mar 06, 2014 7:04 pm

Hi LulaBrazilia,

GMAT SCs test Parallelism in a number of ways, including 2-part parallelism. You probably know some of the obvious "2-part" phrases (either...or, neither...nor), but there are some that aren't so obvious (one of which is in this SC. In addition to using both "parts" of the phrase correctly, you must follow Parallelism rules.

The 2-part phrase in question is "not only....but also..." You'll notice that all 5 answer choices offer this phrase in its entirety (some include the word "on" though, so we have to check and be sure that both parts use the word "on" or both parts don't) . To be correct, the sentence has to follow the two parts with parallel/comparable phrases. After the underlined phrase ends, you'll see a reference to "a growing number of CONSUMER LOANS..."; we need the first phrase to also talk about LOANS.

The correct answer B mentions "not only ON most loans....but also ON...." This answer offers the 2-Part phrase with parallel elements.

GMAT assassins aren't born, they're made,
Rich

Contact Rich at [email protected]

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