|
Author |
Message |
|
TAGS:
|
|
|
Senior Manager
Joined: 28 Jun 2007
Posts: 322
Followers: 1
Kudos [?]:
6
[0], given: 0
|
10,000 is deposited in a certain account that pays r percent [#permalink]
 08 Oct 2007, 18:37
Question Stats:
0% (00:00) correct
 0% (00:00) wrong based on 0 sessions
$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
|
|
|
|
|
|
|
Director
Joined: 08 Jun 2007
Posts: 586
Followers: 1
Kudos [?]:
66
[0], given: 0
|
Re: DS: Set 30, Q10 - Interest rate [#permalink]
08 Oct 2007, 18:57
gluon wrote: $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
Are we missing something in this question .
With the first statement D(t) = 11,000 looks like for all t , D(t) is 11,000 .
So I guess suff .
Second statement is obviously suff , since we have r = 10 .
So D I guess .
|
|
|
|
|
|
CEO
Joined: 29 Mar 2007
Posts: 2618
Followers: 13
Kudos [?]:
142
[0], given: 0
|
Re: DS: Set 30, Q10 - Interest rate [#permalink]
08 Oct 2007, 22:40
gluon wrote: $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
D.
We have t, which is 3 years.
So both are suff.
|
|
|
|
|
|
Senior Manager
Joined: 27 Aug 2007
Posts: 260
Followers: 1
Kudos [?]:
7
[0], given: 0
|
I think it should be B,
1. INSUFF since r and t are both unknown (11000 not for t=3 it is for t)
2. SUFF t=3 and r=10 so we can find D(3)
Ans: B
|
|
|
|
|
|
Manager
Joined: 03 Oct 2007
Posts: 61
Followers: 3
Kudos [?]:
7
[0], given: 0
|
I would also go with B.
1. If the end amount is 11,000, there are many (infinite?) combinations of t and r to get us this sum. Insuff.
2. r = 10, t = 3. so we can solve the problem. Suff.
|
|
|
|
|
|
Manager
Joined: 30 May 2007
Posts: 55
Followers: 1
Kudos [?]:
1
[0], given: 0
|
t=3 years, is given for both the statement
so i think D is correct
|
|
|
|
|
|
Director
Joined: 11 Jun 2007
Posts: 938
Followers: 1
Kudos [?]:
18
[0], given: 0
|
i think it is B. the question asks what it will be in 3 years. we do not know what t is for the first statement. it should state: D(3) = 11,000. what's the OA?
|
|
|
|
|
|
Intern
Joined: 02 Aug 2007
Posts: 38
Followers: 0
Kudos [?]:
2
[0], given: 0
|
Re: DS: Set 30, Q10 - Interest rate [#permalink]
10 Oct 2007, 01:39
gluon wrote: $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
Stat. 1 is a constant equation. independently from (t), the result is always 11 000, thus in 3 years it will be 11 000 => sufficient
Stat. 2 having t and r we can calculate D(3) => sufficient
My answ. is D
I agree that stat. 1 is weird ...
|
|
|
|
|
|
Intern
Joined: 15 Mar 2007
Posts: 48
Followers: 0
Kudos [?]:
0
[0], given: 0
|
Should be B.
S1: Doesnt state the value of t -
D(t) = 11,000 could be for t=1 or 2 or n...
depending on t, rate of interest varies which changes the compounded amount for 3 years. : Insufficient
S2: Sufficient
|
|
|
|
|
|
Manager
Joined: 07 Sep 2007
Posts: 121
Followers: 1
Kudos [?]:
7
[0], given: 0
|
Re: DS: Set 30, Q10 - Interest rate [#permalink]
11 Oct 2007, 01:28
gluon wrote: $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
There is obviously a typo here in (1), but given what we have here.
The answer "should" be D because
1) mathematically states that the deposit will be 11,000 no matter the variables, t or r. It is therefore sufficient. This is true even if we were not given that t=3 (!)
2) gives us the missing variable which is also sufficient.
Guessing what the typo might be, if (1) was supposed to be D(1) = 11000, which makes the most sense, D would also be the answer because we can deduce that r = 10.
|
|
|
|
|
|
|
Re: DS: Set 30, Q10 - Interest rate
[#permalink]
11 Oct 2007, 01:28
|
|
|
|
|
|
|
|
|
Similar topics |
Author |
Replies |
Last post |
|
Similar
Topics:
|
 |
|
|
10,000 is deposited in a certain account that pays r percent
|
trickygmat |
5 |
13 Oct 2005, 15:47 |
|
|
|
|
10,000 is deposited in a certain account that pays r percent
|
minnu |
2 |
17 Sep 2007, 03:11 |
|
|
1
|
|
10,000 is deposited in a certain account that pays r percent
|
nikhilpoddar |
3 |
06 Oct 2008, 09:53 |
|
|
|
|
10,000 is deposited in a certain account that pays r percent
|
FN |
7 |
15 Oct 2008, 17:38 |
|
|
|
|
10,000 is deposited in a certain account that pays r percent
|
milind1979 |
2 |
17 Mar 2009, 21:17 |
|
|
|
|
|
|
close
