$10,000 is deposited in a certain account that pays r percent annual interest compounded annually, the amount D(t), in dollars, that the deposit will grow to in t years is given by D(t) = 10,000 {1+(r/100)}t. What amount will the deposit grow to in 3 years?
(1) D(t) = 11,000
(2) r =10
A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.
My answer is different from the OA given in SET.Please let me know your views
Set 14 Q 14
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formulae : D(t) = 10,000 {1+(r/100)}t
stmt 1:
D(t) = 11,000 now here t& r are not known and I dont think we can assume t=3, well in that case it should have been D(3) =11000
Not Suff
stmt 2: r=10, t=3 put these in formula we would get the amt.
suff
so my ans is B
stmt 1:
D(t) = 11,000 now here t& r are not known and I dont think we can assume t=3, well in that case it should have been D(3) =11000
Not Suff
stmt 2: r=10, t=3 put these in formula we would get the amt.
suff
so my ans is B
Regards
Samir
Samir
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My answer is also B
But the OA is D which I think its wrong as I find mistakes in answers in both verbal and Quant
But the OA is D which I think its wrong as I find mistakes in answers in both verbal and Quant