## Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the same

##### This topic has expert replies
Moderator
Posts: 6689
Joined: 07 Sep 2017
Followed by:21 members

### Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the same

by BTGmoderatorDC » Thu Jun 16, 2022 6:41 am

00:00

A

B

C

D

E

## Global Stats

Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the same time, Marla deposited another amount in Account B at a 4% simple annual interest rate. If there were no withdrawals or deposits during the 10 years since the deposits, is the current interest in A greater than that in B?

(1) The amount invested in Account A was $1,000 more than the amount invested in Account B. (2) The investment in Account A obtained interest of$300 last year.

OA C

Source: EMPOWERgmat

Legendary Member
Posts: 2101
Joined: 29 Oct 2017
Followed by:6 members

### Re: Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the

by swerve » Fri Jun 17, 2022 9:16 am

00:00

A

B

C

D

E

## Global Stats

BTGmoderatorDC wrote:
Thu Jun 16, 2022 6:41 am
Ten years ago, Dorothy deposited a certain amount of money in Account A at a 3% simple annual interest rate. At the same time, Marla deposited another amount in Account B at a 4% simple annual interest rate. If there were no withdrawals or deposits during the 10 years since the deposits, is the current interest in A greater than that in B?

(1) The amount invested in Account A was $1,000 more than the amount invested in Account B. (2) The investment in Account A obtained interest of$300 last year.

OA C

Source: EMPOWERgmat
Interest (D) $$= \dfrac{D\cdot 3\cdot 10}{100}$$

Interest (M) $$= \dfrac{M\cdot 4\cdot 10}{100}$$

Statements:

(1) The amount invested in Account A was $1,000 more than the amount invested in Account B. $$D = M + 1000$$. Insufficient $$\Large{\color{red}\chi}$$ (2) The investment in Account A obtained interest of$300 last year.
$$\dfrac{3D}{100} = 300$$
$$D = 10000$$
Nothing about M. Insufficient $$\Large{\color{red}\chi}$$

Combining, we get
$$D = M +1000 \,\&\, D = 10000$$. Sufficient $$\Large{\color{green}\checkmark}$$

Hence, C

• Page 1 of 1