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 Starts Oct 17
Chris Peckover, Target Test Prep GMAT expert
LIVE ONLINE CLASSES

Get Ready for GMAT Test Day Faster with Live Online Classes

with Chris Peckover, 100th-Percentile GMAT Scorer

Oct 17 · Chris Peckover
Sat · 11:00 AM to 2:00 PM ET
Oct 20 · Chris Peckover
Tue, Thu · 8:00 to 10:00 PM ET
Oct 25 · Josh Braslow
Sun · 1:00 to 4:00 PM ET
Included
40 hours of live online classes + 6 months of TTP OnDemand
  • Attend the first class for free
  • Every class is recorded, so you never fall behind
View classes & enroll
Limited seats availableTarget Test Prep
EALiveTeachOnDemand 5 seats left Start anytime
EXECUTIVE ASSESSMENT

Target Test Prep EA OnDemand

Self-paced EA prep. Study on your schedule.

Logan Thompson
EXECUTIVE ASSESSMENT

Sep 6 to Dec 6, 2026

with Logan Thompson

165+ EA score guarantee
$05-day trial no automatic billing
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 Start free 5-day trial
Limited cohort · enrollment openTrial includes full course accessTarget 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.

Dollars to Pounds

Expert replies
by rahulvsd » Mon Apr 16, 2012 7:44 am
1000 dollars were converted into pounds and then the pounds were converted back into dollars at the same exchange rate of x% pounds per dollar. If a commission of y% is levied on any exchange operation, what dollar amount was left after the exchanges?

A)x = 0.6
B)y = 5

[spoiler]OA: B. Source: GMAT Club[/spoiler]
Join the discussion
Source: — Data Sufficiency |

by aneesh.kg » Mon Apr 16, 2012 10:10 am
If the exchange rate for dollar-to-pound and pound-to-dollar is the same (dependent upon 'x' in this case) then the 1000 dollars would ideally remain the same (if there is no commission) after being converted to pounds and back to dollars.

But, there is a commission levied in this case (which is dependent upon 'y' here). So, in both the exchange operations, the guy has to shell out some money which is ONLY DEPENDENT UPON 'y'.

Therefore, statement (A) which talks about 'x' is useless, and statement (B) which talks about 'y' is SUFFICIENT.

The answer is, thus, B.

P.S. We don't need to calculate the calculate the money left. We just need to make sure that we have enough data to calculate that.

Alternatively:

Let's say that your money gets multiplied by 'k' when you convert from dollar to pound and divided by 'k' when it is converted back into dollars. (Note that k = x/100, as per the question)
Then, your 1000 dollars become 1000k pounds. If the commission of 'y%' is levied then 1000 dollars become 1000k.(1 - y/100) pounds first and then 1000(k/k).(1 - y/100).(1 - y/100) dollars later, or 1000.(1 - y/100)^2 dollars.
This shows that the final amount is independent of k (or the exchange rate) but is only dependent on 'y'.

So, the answer is B.
Join the discussion