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GMATPrep Test 1 : PS #13

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by camitava » Mon Nov 05, 2007 8:29 pm
kaizenwerks,
in simple interest we are getting 600$ in 2 yrs so interest p.a = 200$
So kd/100 = 300 so k = 30000/d
Now we want to get 2400$ after 3 yrs. So we need to get 800$ p.a.
And let x is the principal amount.
So 300x/d = 800 => x = 8d/3.
IMO E
Correct me If I am wrong


Regards,

Amitava
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by gmatguy16 » Tue Nov 06, 2007 4:18 pm
imo e as well,whats oa?
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by Jimat » Tue Nov 06, 2007 6:10 pm
Guys I`m a little bit lose, what is the rules for simple interest?
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by yuri » Tue Nov 06, 2007 11:53 pm
kamitava, I can't understand at all what you said. Sorry. Could you please define it a little bit more. I know the formula (T=Prt), but I am SO confused...
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by camitava » Wed Nov 07, 2007 3:55 am
in simple interest we are getting 600$ in 2 yrs so interest p.a = 200$
Yuri, I had a typo there! It should be
in simple interest we are getting 600$ in 2 yrs so interest p.a = 300$
The rest are fine! Sorry for my mistake! Are u able to get me now?
Correct me If I am wrong


Regards,

Amitava
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still could use some clarification

by kaizenwerks » Thu Nov 08, 2007 7:56 pm
camitava,

could you explain further in detail:

in simple interest we are getting 600$ in 2 yrs so interest p.a = 300$

p.a is principal amount right? isn't the $300 the interest though? why are we dividing by 100?

So kd/100 = 300 so k = 30000/d
Now we want to get 2400$ after 3 yrs. So we need to get 800$ p.a.
And let x is the principal amount.
So 300x/d = 800 => x = 8d/3

8d/3 is the correct answer but i am still a bit confused. thanks.
Best regards,

GMAT monkey
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by yuri » Thu Nov 08, 2007 11:00 pm
thanks camitava! Got it!
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