GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 21 Nov 2018, 12:16

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 in November
PrevNext
SuMoTuWeThFrSa
28293031123
45678910
11121314151617
18192021222324
2526272829301
Open Detailed Calendar
  • All GMAT Club Tests are Free and open on November 22nd in celebration of Thanksgiving Day!

     November 22, 2018

     November 22, 2018

     10:00 PM PST

     11:00 PM PST

    Mark your calendars - All GMAT Club Tests are free and open November 22nd to celebrate Thanksgiving Day! Access will be available from 0:01 AM to 11:59 PM, Pacific Time (USA)
  • Key Strategies to Master GMAT SC

     November 24, 2018

     November 24, 2018

     07:00 AM PST

     09:00 AM PST

    Attend this webinar to learn how to leverage Meaning and Logic to solve the most challenging Sentence Correction Questions.

An investment yields an interest payment of $68 each week. If the simp

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

Hide Tags

Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 50730
An investment yields an interest payment of $68 each week. If the simp  [#permalink]

Show Tags

New post 29 Oct 2018, 06:15
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

76% (01:47) correct 24% (02:11) wrong based on 37 sessions

HideShow timer Statistics

An investment yields an interest payment of $68 each week. If the simple annual interest rate is 7.5%, what is the amount of the investment assuming there only 48 weeks are calculated in a year?


A. $28,600
B. $30,430
C. $34,330
D. $37,860
E. $43,520

_________________

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

Board of Directors
User avatar
P
Status: QA & VA Forum Moderator
Joined: 11 Jun 2011
Posts: 4232
Location: India
GPA: 3.5
WE: Business Development (Commercial Banking)
GMAT ToolKit User Premium Member CAT Tests
An investment yields an interest payment of $68 each week. If the simp  [#permalink]

Show Tags

New post 29 Oct 2018, 07:20
Bunuel wrote:
An investment yields an interest payment of $68 each week. If the simple annual interest rate is 7.5%, what is the amount of the investment assuming there only 48 weeks are calculated in a year?


A. $28,600
B. $30,430
C. $34,330
D. $37,860
E. $43,520

Total Interest per year is \(68*48\)

Now, \(68*48 = \frac{P*1*7.5}{100}\)

So, \(p = $43,520\), Answer must be (E)
_________________

Thanks and Regards

Abhishek....

PLEASE FOLLOW THE RULES FOR POSTING IN QA AND VA FORUM AND USE SEARCH FUNCTION BEFORE POSTING NEW QUESTIONS

How to use Search Function in GMAT Club | Rules for Posting in QA forum | Writing Mathematical Formulas |Rules for Posting in VA forum | Request Expert's Reply ( VA Forum Only )

e-GMAT Representative
User avatar
P
Joined: 04 Jan 2015
Posts: 2213
Re: An investment yields an interest payment of $68 each week. If the simp  [#permalink]

Show Tags

New post 30 Oct 2018, 02:41

Solution


Given:
    • Interest payment for each week = $68
    • Simple annual interest rate = 7.5%
    • Number of weeks calculated in a year = 48

To find:
    • The amount of investment

Approach and Working:
    • Let us assume that the investment amount = A
    • Interest rate per week = 7.5%/total number of weeks in that year = \(\frac{7.5%}{48}\)
    • Interest payment for each week = $68
    • Thus, \((\frac{7.5}{48})\)% of A = $68
      o Implies, A = \(\frac{($68 * 48 *100)}{7.5} = $43,520\)

Hence, the correct answer is Option E

Answer: E

Image

_________________








Register for free sessions
Number Properties | Algebra |Quant Workshop

Success Stories
Guillermo's Success Story | Carrie's Success Story

Ace GMAT quant
Articles and Question to reach Q51 | Question of the week

Must Read Articles
Number Properties – Even Odd | LCM GCD | Statistics-1 | Statistics-2
Word Problems – Percentage 1 | Percentage 2 | Time and Work 1 | Time and Work 2 | Time, Speed and Distance 1 | Time, Speed and Distance 2
Advanced Topics- Permutation and Combination 1 | Permutation and Combination 2 | Permutation and Combination 3 | Probability
Geometry- Triangles 1 | Triangles 2 | Triangles 3 | Common Mistakes in Geometry
Algebra- Wavy line | Inequalities

Practice Questions
Number Properties 1 | Number Properties 2 | Algebra 1 | Geometry | Prime Numbers | Absolute value equations | Sets



| '4 out of Top 5' Instructors on gmatclub | 70 point improvement guarantee | www.e-gmat.com

GMAT Club Bot
Re: An investment yields an interest payment of $68 each week. If the simp &nbs [#permalink] 30 Oct 2018, 02:41
Display posts from previous: Sort by

An investment yields an interest payment of $68 each week. If the simp

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| 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®.