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Pls need your quick way [#permalink]

22 May 2008, 01:24

Pls need your quick way!

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Re: Gmatprep. Interest [#permalink]

22 May 2008, 01:42

A

Stmt-1

if you solve you will get r=10 which >8 thus sufficient

Stmt -2 true for all the values but for r=8 i.e when r =8 you get 1.16 which > 1.15 thus insufficient

thus answer A
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Re: Gmatprep. Interest [#permalink]

22 May 2008, 02:19

Hi The answer is A:
Firstly, The formula given is Compound I and you should understand that CI = SI approximately
and that should help you sort this problem
Statement 1: I = 210 or PRT/100 = 210 (SI)Approx.
thus R= 10.5% hence CI should be around the same value thus Is sufficient

Statement 2: 1000(Value) - 1000 > 1000(1.15) - 1000 = 150 hence Interest is greater than 150 which implies PRT/100 > 150 or R> 7.5 thus insuffcient

Hence A is the answer. If you are not convinced if CI = SI just use some values and you will find that the value differes only in decimals.

Hope tht helps

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Re: Gmatprep. Interest [#permalink]

22 May 2008, 11:37

sondenso wrote:

Pls need your quick way!

Just realize that the first is solvable. Yes if you solve it. You get r=10.

But no reason to.

Stmt2: there are numerous values. Try 8 for r.

We get the solution as 1.1664>1.15. Thus we can have many values.

Insuff.

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Re: Gmatprep. Interest [#permalink]

22 May 2008, 12:18

GMATBLACKBELT wrote:

sondenso wrote:

Pls need your quick way!

everyone cracked the first one , for second statement I will use this approach which I think is quicker

(1+r/100)^2 > 1.15

expanding the left side and representing the right side to match the left side will make it much easier
(1 + 2r/100 + r^2/10000) > 1 + 15/100

r^2/10000 is way too small so ignore that term , you can think of the above statement as

(1 + 2r/100 ) > 1 + 15/100

which means 2r> 15 and r>7.5 (not > 8) , so insuff ....

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Re: Gmatprep. Interest [#permalink]

22 May 2008, 19:24

rpmodi wrote:

r^2/10000 is way too small so ignore that term ,

I really like this evaluation. Thanks rpmodi!
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Re: Gmatprep. Interest [#permalink] 22 May 2008, 19:24

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