Find all School-related info fast with the new School-Specific MBA Forum

It is currently 30 Jul 2016, 06:19
GMAT Club Tests

Close

GMAT Club Daily Prep

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.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Maria deposits $10,000 in a bank. What is the annual

  post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Director
Director
User avatar
Joined: 13 Nov 2003
Posts: 964
Location: Florida
Followers: 1

Kudos [?]: 83 [0], given: 0

Maria deposits $10,000 in a bank. What is the annual [#permalink]

Show Tags

New post 25 Nov 2003, 23:27
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 2 sessions

HideShow timer Statistics

This topic is locked. If you want to discuss this question please re-post it in the respective forum.

Maria deposits $10,000 in a bank. What is the annual interest which the bank will pay to Maria?

(1) The interest must be paid once every six months.

(2) The rate of interest is 4%.

A. Statement (1) ALONE is sufficient but Statement (2) ALONE is not sufficient.
B. Statement (2) ALONE is sufficient but Statement (1) ALONE is not sufficient.
C. BOTH Statements TOGETHER are sufficient, but NEITHER Statement alone is sufficient.
D. Each Statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.

will we be assuming that the rate given is yearly? :idea:
Director
Director
User avatar
Joined: 14 Oct 2003
Posts: 587
Location: On Vacation at My Crawford, Texas Ranch
Followers: 1

Kudos [?]: 34 [0], given: 0

Re: DS - simple interest [#permalink]

Show Tags

New post 26 Nov 2003, 07:57
dj wrote:
Maria deposits $10,000 in a bank. What is the annual interest which the bank will pay to Maria?

(1) The interest must be paid once every six months.

(2) The rate of interest is 4%.

A. Statement (1) ALONE is sufficient but Statement (2) ALONE is not sufficient.
B. Statement (2) ALONE is sufficient but Statement (1) ALONE is not sufficient.
C. BOTH Statements TOGETHER are sufficient, but NEITHER Statement alone is sufficient.
D. Each Statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.

will we be assuming that the rate given is yearly? :idea:



I agree E. 2) doesn't say anything - rate of interest - for what time period??? Semi annual??? 10 Year??? 1 Year??? 30 Years??? etc.

combining 1 and 2 doesn't give us an answer.
Director
Director
User avatar
Joined: 13 Nov 2003
Posts: 964
Location: Florida
Followers: 1

Kudos [?]: 83 [0], given: 0

 [#permalink]

Show Tags

New post 26 Nov 2003, 07:57
I see your point stolyar. We can't even single out whether it it a simple or compound interest..

it is from gmat+ and the off answer is B....must be wrong. Thanks!
Manager
Manager
avatar
Joined: 26 Aug 2003
Posts: 233
Location: United States
Followers: 1

Kudos [?]: 9 [0], given: 0

 [#permalink]

Show Tags

New post 26 Nov 2003, 08:47
Statement (2) tells us all so the answer B makes perfect sense!
Director
Director
User avatar
Joined: 13 Nov 2003
Posts: 964
Location: Florida
Followers: 1

Kudos [?]: 83 [0], given: 0

 [#permalink]

Show Tags

New post 26 Nov 2003, 09:10
wonder_gmat,

how can we assume that it is a simple interest problem. furthermore, whether the annual rate given or quarterly rate... why assume?
Intern
Intern
avatar
Joined: 11 Nov 2003
Posts: 30
Location: CA
Followers: 1

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

 [#permalink]

Show Tags

New post 26 Nov 2003, 11:04
E..

We can not assume if it is a simple interest or compound Interest.
  [#permalink] 26 Nov 2003, 11:04
Display posts from previous: Sort by

Maria deposits $10,000 in a bank. What is the annual

  post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.