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Ten years ago, Dorothy deposited a certain amount of money in Account \(A\) at a \(3\%\) simple annual interest rate. At

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by Vincen » Fri Dec 11, 2020 12:43 am

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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.

Answer: C

Source: EMPOWERgmat
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