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

It is currently 01 Oct 2014, 06:26

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

The total amount that a certain bank loaned in 1998 was $47

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Manager
Manager
avatar
Joined: 03 Oct 2008
Posts: 63
Followers: 0

Kudos [?]: 1 [0], given: 0

The total amount that a certain bank loaned in 1998 was $47 [#permalink] New post 07 Oct 2008, 05:24
The total amount that a certain bank loaned in 1998 was $47 million. How many dollars did the bank loan in June of 1998 for car loans?
(1) 18 percent of the amount that the bank loaned in June of 1998 was for car loans.
(2) 8 percent of the total amount that the bank loaned in 1998 was loaned in June.

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.
Answer:
Manager
Manager
User avatar
Joined: 09 Jul 2007
Posts: 244
Followers: 3

Kudos [?]: 54 [0], given: 0

Re: math---bank loan [#permalink] New post 07 Oct 2008, 05:28
IMO C.

1 ) 18 % of June's loan = car loan of June => not sufficient
2 ) 8% of the total loan= June's loan => not sufficient

combined, car loan of june = 18 % of ( 8 % of 47 M ) => succifient
Re: math---bank loan   [#permalink] 07 Oct 2008, 05:28
    Similar topics Author Replies Last post
Similar
Topics:
4 Experts publish their posts in the topic In a certain economy, C represents the total amount of roygush 7 14 Dec 2012, 12:27
Experts publish their posts in the topic Average Student Loan Amounts bb 4 01 Dec 2011, 21:33
A certain bank has ten branches. What is the total amount of enigma123 3 18 Nov 2011, 13:00
A certain amount was deposited at bank A at a rate of x arjtryarjtry 3 30 Aug 2008, 02:36
A certain bank has ten branches. What is the total amount of Skewed 1 15 Dec 2007, 13:28
Display posts from previous: Sort by

The total amount that a certain bank loaned in 1998 was $47

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| 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®.