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

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

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New post 27 Jun 2014, 05:56
2
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A
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E

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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))

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

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

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

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

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

ratio = 25/(10000-y)
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Re: A bank customer borrowed $10,000, but received y dollars les  [#permalink]

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New post 25 Nov 2014, 21:14
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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
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Re: A bank customer borrowed $10,000, but received y dollars les  [#permalink]

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

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New post 03 Apr 2015, 02:11
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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.

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

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

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

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New post 01 Jul 2015, 05:12
Thanks,understood now :)
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Re: A bank customer borrowed $10,000, but received y dollars les  [#permalink]

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

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

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New post 03 May 2017, 19:08
I am still confused why is the amount finally received be 10000-y-25?? Than you :)
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Re: A bank customer borrowed $10,000, but received y dollars les  [#permalink]

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

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

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

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

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

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Re: A bank customer borrowed $10,000, but received y dollars les   [#permalink] 03 Apr 2019, 08:32
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