Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized for You

we will pick new questions that match your level based on your Timer History

Track Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 350,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

Larry saves x dollars per month. Will Larry s total savings [#permalink]
05 Oct 2005, 02:11

00:00

A

B

C

D

E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct
0% (00:00) wrong based on 0 sessions

Larry saves x dollars per month. Will LarryÂ¡Â¯s total savings one year from now exceed his present savings by at least $500 ? (Assume that there is no interest.)

(1) In 6 months Larry's total savings will be $900.
(2) In 3 months Larry's total savings will exceed his present savings by $150. _________________

2. he's saved 150 during 3 months, i.e 50 a month. so he will be saving 12*50=600 in a year. Sufficient

But then by the same logic, cant we say, he's saved 900 during 6 months, i.e 150 a month. so he will be saving 12*150 in a year?

Rahulraao,

I'm afraid not. Statement 1 tells you how Larry's total savings were after 6 months. We don't know how much he has saved.

Let's say he had 200 in his saving account before starting saving x dolla/month. So, in that case he has saved 400 dollars during 6 months.

Let's say he had 500 before he started saving. That means he saved 100 dollars. The tricky thing might be the word total saving which includes the saving he had before starting saving plus the amount he actually saved.

In statement 2, we know that he saved 150 dollars cause that's the amount which exceeds his original savings.

(1) 6X + Y = 900
though this tells you that he's saved $900, it gives you no clue how much Larry started with. insufficient

(2) 3X = Y + 150
since we want to know whether 12X > 500 + Y, I multiplied both sides of the eq'n by 4 to get 12X = Y + 600. from this I gathered that no matter what Y is, the savings after a year will be at least $600 greater...

Last edited by MsStephanie on 06 Oct 2005, 17:19, edited 1 time in total.

(1) 6X = 900 though this tells you that he's saved $900, it gives you no clue how much Larry started with. insufficient

Ok, I think I am not getting something here.
If 6x = 900 => 12x = 1800.

So Larry will have saved 1800 more than what he has now. We dont care what he started with. We want to know if he will have 500 more.
His savings are $1800 in 12 months, so sufficient. No? _________________

If you can't change the people, change the people.

Well, I’ve had a busy month! In February I traveled to interview and visit three MBA programs. Earlier in the month I also went to Florida on vacation. This...

One of the reasons why I even considered Tepper is the location. Last summer I stopped in Pittsburgh on the way home from a road trip. We were vacationing...

“Which French bank was fined $613bn for manipulating the Euribor rate?” asked quizmaster Andrew Hill in this year’s FT MBA Quiz. “Société Générale” responded the...

The most time-consuming part of writing the essays comes before and after the act of writing. Jotting down an answer to the questions should take a few hours at most. By then you...