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

Compare the format, schedule, and included access before enrolling. Prices and seat counts shown reflect the supplied offer details.

Simple Interest pS!

Expert replies
by vishubn » Thu Oct 02, 2008 8:57 pm
$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.
Join the discussion
Source: — Problem Solving |

by stop@800 » Thu Oct 02, 2008 9:00 pm
IMO the question is incorrect

in option A it should be D(1) = 11000

the Ans is D


Even if its not D(1)
the ans will still be D
Join the discussion

by vishubn » Thu Oct 02, 2008 9:32 pm
could u please solve this ??
Join the discussion

by Gmatterz » Thu Oct 02, 2008 11:12 pm
Hi Vishu,
This is a data sufficiency question category,so solving would waste the time

Consider statemnt 1

D(t) = 11,000 ie D(1) = 11,000(as per the data given in the question)

so here t =1 and D(1)=11000 applying the values in the given formula

D(t) = 10,000
{1+(r/100)}t

we will get the value of r,once we find r we can always get the amount after 3 years by reapplying all teh value sback in the formula

so A is sufficient


Consider choice B

(2) r =10

here in also you can directly find the amount value after 3 years

cincre r = 10 ,n=3 so you will get D(3) value

Hence B is also sufficient

Hence the final answer would be D,since each of them is individually sufficient

Thanks
Join the discussion

by kris610 » Fri Oct 03, 2008 7:10 am
Vishu..FYI, you may post the DS problems in the DS section.
Join the discussion