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# Ajay deposited a certain sum of money in a savings account-Interest-PS

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Director
Joined: 08 Jun 2013
Posts: 515
Location: India
Schools: INSEAD Jan '19
GMAT 1: 200 Q1 V1
GPA: 3.82
WE: Engineering (Other)
Ajay deposited a certain sum of money in a savings account-Interest-PS  [#permalink]

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11 Aug 2018, 09:04
00:00

Difficulty:

55% (hard)

Question Stats:

38% (02:02) correct 63% (01:17) wrong based on 8 sessions

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Ajay deposited a certain sum of money in a savings account on July 1st, 2017. He earns an 8% interest compounded semiannually. The sum of money in the account on December 31st, 2019 is approximately what percent of the initial deposit?

A) 117%
B) 120%
C) 140%
D) 135%
E) 121%

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Posts: 51123
Re: Ajay deposited a certain sum of money in a savings account-Interest-PS  [#permalink]

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11 Aug 2018, 12:09
Harshgmat wrote:
Ajay deposited a certain sum of money in a savings account on July 1st, 2017. He earns an 8% interest compounded semiannually. The sum of money in the account on December 31st, 2019 is approximately what percent of the initial deposit?

A) 117%
B) 120%
C) 140%
D) 135%
E) 121%

Discussed here: https://gmatclub.com/forum/michelle-dep ... 38273.html

Please do not re-post questions which are already present on the forum.
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Re: Ajay deposited a certain sum of money in a savings account-Interest-PS &nbs [#permalink] 11 Aug 2018, 12:09
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# Ajay deposited a certain sum of money in a savings account-Interest-PS

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