It is currently 21 Nov 2017, 11:01

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.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

A bank customer borrowed $10,000, but received y dollars les

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Expert Post
1 KUDOS received
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 42283

Kudos [?]: 132935 [1], given: 12391

A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 27 Jun 2014, 05:56
1
This post received
KUDOS
Expert's post
6
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

71% (01:16) correct 29% (01:48) wrong based on 468 sessions

HideShow timer Statistics

GMAT weekly questions



A bank customer borrowed $10,000, but received y dollars less than this due to discounting. If there was a separate $25 service charge, then, in terms of y, the service charge was what fraction of the amount that the customer received?

A. 25/(10,000 - y)
B. 25/(10,000 - 25y)
C. 25y/(10,000 - y)
D. (y - 25)/(10,000 - y)
E. 25/(10,000 - (y - 25))
[Reveal] Spoiler: OA

_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Kudos [?]: 132935 [1], given: 12391

Expert Post
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 42283

Kudos [?]: 132935 [0], given: 12391

Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 27 Jun 2014, 05:57
Bunuel wrote:

GMAT weekly questions



A bank customer borrowed $10,000, but received y dollars less than this due to discounting. If there was a separate $25 service charge, then, in terms of y, the service charge was what fraction of the amount that the customer received?

A. 25/(10,000 - y)
B. 25/(10,000 - 25y)
C. 25y/(10,000 - y)
D. (y - 25)/(10,000 - y)
E. 25/(10,000 - (y - 25))


The amount of money the customer received was (10,000 - y) dollars. The $25 service charge as a fraction of the amount received was, therefore, 25/(10,000 - y).

Answer: A.
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Kudos [?]: 132935 [0], given: 12391

SVP
SVP
User avatar
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1851

Kudos [?]: 2721 [0], given: 193

Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 10 Jul 2014, 03:26
Amount received = 10000 - y

Service charge = 25

\(Fraction = \frac{25}{10000-y}\)


Answer = A

Bunuel, kindly write the OA in mathematical form :)
_________________

Kindly press "+1 Kudos" to appreciate :)

Kudos [?]: 2721 [0], given: 193

Current Student
avatar
Joined: 21 Oct 2013
Posts: 193

Kudos [?]: 46 [0], given: 19

Location: Germany
GMAT 1: 660 Q45 V36
GPA: 3.51
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 28 Jul 2014, 01:52
The question asks : 25 $ of Amount received. Amount = 10,000 $- y

Hence 25 $ of (10,000$-y) --> 25/(10,000-y). A.

Kudos [?]: 46 [0], given: 19

Intern
Intern
avatar
Joined: 25 Oct 2014
Posts: 14

Kudos [?]: 11 [0], given: 5

Location: United States
Concentration: Marketing, Healthcare
GMAT Date: 12-17-2014
GPA: 3.7
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 26 Oct 2014, 02:37
1
This post was
BOOKMARKED
amt recd = 10000-y
svc charge = 25

ratio = 25/(10000-y)

Kudos [?]: 11 [0], given: 5

1 KUDOS received
Intern
Intern
avatar
Joined: 08 Jul 2013
Posts: 19

Kudos [?]: 3 [1], given: 23

GMAT ToolKit User
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 25 Nov 2014, 21:14
1
This post received
KUDOS
Should the question be framed a little differently?
I misinterpreted the question and thought that the 25$ were in addition to Y dollars and selected E

Kudos [?]: 3 [1], given: 23

Intern
Intern
User avatar
Joined: 04 Jul 2014
Posts: 48

Kudos [?]: 38 [0], given: 40

Schools: Smeal" 20
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 27 Nov 2014, 11:08
vivekvijayan wrote:
Should the question be framed a little differently?
I misinterpreted the question and thought that the 25$ were in addition to Y dollars and selected E


Vivek...even i that case the denominator would have been 10000-y-25 and not 10000-(y-25)

Kudos [?]: 38 [0], given: 40

1 KUDOS received
Manager
Manager
avatar
S
Joined: 17 Mar 2014
Posts: 152

Kudos [?]: 77 [1], given: 353

GMAT ToolKit User
A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 03 Apr 2015, 02:11
1
This post received
KUDOS
I too thought received amount should be 10,000-y-25.
Service charge as a fraction of received amount should be \(\frac{25}{(10000-y-25)}\).
As I could not find this answer in any option, I selected option A, thinking 10000-y-25 is approximate equal to 10000-y.

Regards,
Ammu

Kudos [?]: 77 [1], given: 353

Intern
Intern
avatar
B
Joined: 10 Dec 2012
Posts: 48

Kudos [?]: 12 [0], given: 52

Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 01 Jul 2015, 04:56
Bunuel wrote:
Bunuel wrote:

GMAT weekly questions



A bank customer borrowed $10,000, but received y dollars less than this due to discounting. If there was a separate $25 service charge, then, in terms of y, the service charge was what fraction of the amount that the customer received?

A. 25/(10,000 - y)
B. 25/(10,000 - 25y)
C. 25y/(10,000 - y)
D. (y - 25)/(10,000 - y)
E. 25/(10,000 - (y - 25))


The amount of money the customer received was (10,000 - y) dollars. The $25 service charge as a fraction of the amount received was, therefore, 25/(10,000 - y).

Answer: A.



Ok i understood the amount received is 10,000-y and service charge is $25, however ,why 25 is in numerator and why received amount is in the denominator, could someone pls tell me the logic. Thank You.

Kudos [?]: 12 [0], given: 52

Expert Post
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 42283

Kudos [?]: 132935 [0], given: 12391

Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 01 Jul 2015, 05:03
jaspreets wrote:
Bunuel wrote:
Bunuel wrote:

GMAT weekly questions



A bank customer borrowed $10,000, but received y dollars less than this due to discounting. If there was a separate $25 service charge, then, in terms of y, the service charge was what fraction of the amount that the customer received?

A. 25/(10,000 - y)
B. 25/(10,000 - 25y)
C. 25y/(10,000 - y)
D. (y - 25)/(10,000 - y)
E. 25/(10,000 - (y - 25))


The amount of money the customer received was (10,000 - y) dollars. The $25 service charge as a fraction of the amount received was, therefore, 25/(10,000 - y).

Answer: A.



Ok i understood the amount received is 10,000-y and service charge is $25, however ,why 25 is in numerator and why received amount is in the denominator, could someone pls tell me the logic. Thank You.


Read the question carefully: in terms of y, the service charge was what FRACTION of the amount that the customer received?
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Kudos [?]: 132935 [0], given: 12391

Intern
Intern
avatar
B
Joined: 10 Dec 2012
Posts: 48

Kudos [?]: 12 [0], given: 52

Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 01 Jul 2015, 05:12
Thanks,understood now :)

Kudos [?]: 12 [0], given: 52

Manager
Manager
avatar
S
Joined: 17 Mar 2014
Posts: 152

Kudos [?]: 77 [0], given: 353

GMAT ToolKit User
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 02 May 2017, 17:10
Bunuel wrote:
Bunuel wrote:

GMAT weekly questions



A bank customer borrowed $10,000, but received y dollars less than this due to discounting. If there was a separate $25 service charge, then, in terms of y, the service charge was what fraction of the amount that the customer received?

A. 25/(10,000 - y)
B. 25/(10,000 - 25y)
C. 25y/(10,000 - y)
D. (y - 25)/(10,000 - y)
E. 25/(10,000 - (y - 25))


The amount of money the customer received was (10,000 - y) dollars. The $25 service charge as a fraction of the amount received was, therefore, 25/(10,000 - y).

Answer: A.



won't the amount received be 10000-y-25 ?

Kudos [?]: 77 [0], given: 353

Expert Post
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 42283

Kudos [?]: 132935 [0], given: 12391

Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 03 May 2017, 03:24
ammuseeru wrote:
Bunuel wrote:
Bunuel wrote:

GMAT weekly questions



A bank customer borrowed $10,000, but received y dollars less than this due to discounting. If there was a separate $25 service charge, then, in terms of y, the service charge was what fraction of the amount that the customer received?

A. 25/(10,000 - y)
B. 25/(10,000 - 25y)
C. 25y/(10,000 - y)
D. (y - 25)/(10,000 - y)
E. 25/(10,000 - (y - 25))


The amount of money the customer received was (10,000 - y) dollars. The $25 service charge as a fraction of the amount received was, therefore, 25/(10,000 - y).

Answer: A.



won't the amount received be 10000-y-25 ?


No, it would be 1000 - y: A bank customer borrowed $10,000, but received y dollars less.
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Kudos [?]: 132935 [0], given: 12391

Intern
Intern
avatar
B
Joined: 16 Nov 2016
Posts: 31

Kudos [?]: 6 [0], given: 2

Location: India
Concentration: Finance, International Business
GPA: 3.78
WE: Accounting (Accounting)
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 03 May 2017, 19:08
I am still confused why is the amount finally received be 10000-y-25?? Than you :)

Kudos [?]: 6 [0], given: 2

Manager
Manager
avatar
S
Joined: 17 Mar 2014
Posts: 152

Kudos [?]: 77 [0], given: 353

GMAT ToolKit User
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 03 May 2017, 19:54
muthappashivani wrote:
I am still confused why is the amount finally received be 10000-y-25?? Than you :)


I thought amount received will be "amount borrowed - y dollar - service charge".
If I have to pay service charges then I may consider in hand money be Borrowed- service charges.


Regards,
Amm

Kudos [?]: 77 [0], given: 353

Expert Post
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 42283

Kudos [?]: 132935 [0], given: 12391

Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 03 May 2017, 22:33
ammuseeru wrote:
muthappashivani wrote:
I am still confused why is the amount finally received be 10000-y-25?? Than you :)


I thought amount received will be "amount borrowed - y dollar - service charge".
If I have to pay service charges then I may consider in hand money be Borrowed- service charges.


Regards,
Amm


The stem clearly says that "A bank customer borrowed $10,000, but received y dollars less".
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Kudos [?]: 132935 [0], given: 12391

Director
Director
avatar
P
Joined: 22 May 2016
Posts: 991

Kudos [?]: 344 [0], given: 594

A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 06 May 2017, 06:54
Bunuel wrote:
ammuseeru wrote:
muthappashivani wrote:
I am still confused why is the amount finally received be 10000-y-25?? Than you :)


I thought amount received will be "amount borrowed - y dollar - service charge".
If I have to pay service charges then I may consider in hand money be Borrowed- service charges.


Regards,
Amm


The stem clearly says that "A bank customer borrowed $10,000, but received y dollars less".


Respectfully, "received" in this context is ambiguous. We know that he received y dollars less. Yes, the stem clearly says those words. But he also "received" 25 dollars less, and absence of explicit mention does not equal proof that it should not be considered.

I came at it both ways, got answers A and E, decided that the question was testing subtlety, and chose E.

I think answer E supports the perception that the question tests the subtlety of an ambiguous word -- especially because by definition discounted loans require all interest and fees to be paid up front, and because answer E is VERY close, but not identical.

I didn't catch the that E was close but not identical. If I had, I'd have known the question meant "ONLY less y dollars."

Here's the reply, from Vetrik , that let me know which side of the ambiguity the question came down on*:
-----------------------
Vivek...even if [it were the case that the question implies that $25] also should have been deducted ... the denominator would have been 10000-y-25 and not 10000-(y-25).
------------------------

In close cases from now on I will write out the answer choice! Just as in editing prose, the eye often sees, inaccurately, what the mind wants it to see.


*apologies, can't get the regular quote function to work

Kudos [?]: 344 [0], given: 594

Expert Post
Target Test Prep Representative
User avatar
S
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 1821

Kudos [?]: 936 [0], given: 3

Location: United States (CA)
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 06 May 2017, 17:52
Quote:

A bank customer borrowed $10,000, but received y dollars less than this due to discounting. If there was a separate $25 service charge, then, in terms of y, the service charge was what fraction of the amount that the customer received?

A. 25/(10,000 - y)
B. 25/(10,000 - 25y)
C. 25y/(10,000 - y)
D. (y - 25)/(10,000 - y)
E. 25/(10,000 - (y - 25))


The customer received 10000 - y dollars. Therefore, the service charge was 25/(10000 - y) of the amount that the customer received.

Answer: A
_________________

Scott Woodbury-Stewart
Founder and CEO

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

Kudos [?]: 936 [0], given: 3

Manager
Manager
avatar
B
Joined: 04 Jul 2017
Posts: 62

Kudos [?]: 13 [0], given: 69

Location: India
Concentration: Marketing, General Management
GPA: 1
WE: Analyst (Consulting)
Re: A bank customer borrowed $10,000, but received y dollars les [#permalink]

Show Tags

New post 14 Aug 2017, 13:22
I got the answer as 25/(10,000-y-25). Since there was no such option, I came here. With all due respects, the language of the question is clearly wrong. It says in the second sentence that a separate $25 is charged. The word "separate" re-emphasizes that 25 is in addition to other things, at least for me :-(

Kudos [?]: 13 [0], given: 69

Re: A bank customer borrowed $10,000, but received y dollars les   [#permalink] 14 Aug 2017, 13:22
Display posts from previous: Sort by

A bank customer borrowed $10,000, but received y dollars les

  new topic 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 | Emoji artwork provided by EmojiOne

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®.