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# At the same time, Jane deposited a sum of money at 10%

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Senior Manager
Joined: 10 Dec 2004
Posts: 274
Followers: 1

Kudos [?]: 53 [0], given: 0

At the same time, Jane deposited a sum of money at 10% [#permalink]  12 May 2005, 06:17
00:00

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(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions
At the same time, Jane deposited a sum of money at 10% compounded annual interest and Sam deposited a sum of money at 6% compounded annual interest. What is the ratio of Jane's investment to Sum's?
1) One year later, the two sums of money are the same.
2) One year later, Jane's money is \$3,300 more than Sum's
Director
Joined: 27 Dec 2004
Posts: 908
Followers: 1

Kudos [?]: 19 [0], given: 0

Itâ€™s B
With 1, we have 1 equation and 2 unknowns so insuff
With B, we have 1 equation and 1 unknown so suff
Senior Manager
Joined: 10 Dec 2004
Posts: 274
Followers: 1

Kudos [?]: 53 [0], given: 0

Folaa..

Be careful when solving such problems. Thjis is common ETS trap.
The question is asking for a ratio! Hence, we may not necessarily need to solve 2 unknowns in eqn 1.

Give it another shot.
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Intern
Joined: 15 Feb 2005
Posts: 23
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Is this a valid GMAT question.

1) and 2) cannot have differing results in real GMAT questions. This one seems to suggest so.
Director
Joined: 27 Dec 2004
Posts: 908
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Kudos [?]: 19 [0], given: 0

Pb india,

It canâ€™t be C (else itâ€™s not the best wording). Statement 1 and statement 2 are both conflicting IMO. Iâ€™m sure there is a hidden trick to solving this question.
In all i still stand corrected.
Manager
Joined: 22 Apr 2005
Posts: 129
Location: Los Angeles
Followers: 1

Kudos [?]: 5 [0], given: 0

No tricks.

Jane's money - J
Sam's money - S

Find J/S

(1) J + 0.1*J = S + 0.06*S => J/S = 1.06/1.1

(2) J + 0.1*J = S + 0.06*S + 3300 - dead end
Senior Manager
Joined: 10 Dec 2004
Posts: 274
Followers: 1

Kudos [?]: 53 [0], given: 0

Tyr you are correct.

OA is "A"

From "B" you cannot get ratio of J/S
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