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02 Apr 2019, 09:46
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Difficulty:
35%
(medium)
Question Stats:
75% (01:59) correct
25%
(01:22)
wrong
based on 4
sessions
History
Date
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Result
Not Attempted Yet
Each year, funds A and B grow by a particular percentage based on the following policy of the investment company:
1) The allowed percentages of growths on the two funds are 20% and 30%.
2) The growth percentages of the two funds are not the same in any year.
3) No fund will have the same percentage growth in any two consecutive years.
Bob invested equal amounts into funds A and B. In the first year, fund B grew by 30%. After 3 years, how many times greater is the value of fund B than the value of the fund A?
A) \(\frac{12}{13}\)
B) \(1\)
C) \(\frac{13}{12}\)
D) \(1.2\)
E) \(1.3\)
Source: Nova's GMAT Math Bible p.263
1) The allowed percentages of growths on the two funds are 20% and 30%.
2) The growth percentages of the two funds are not the same in any year.
3) No fund will have the same percentage growth in any two consecutive years.
Bob invested equal amounts into funds A and B. In the first year, fund B grew by 30%. After 3 years, how many times greater is the value of fund B than the value of the fund A?
A) \(\frac{12}{13}\)
B) \(1\)
C) \(\frac{13}{12}\)
D) \(1.2\)
E) \(1.3\)
Source: Nova's GMAT Math Bible p.263
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02 Apr 2019, 22:29
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I find the wording almost incomprehensible, but I think the question is trying to say that each year, the interest rate on one fund is always 20%, and on the other it's always 30% (that's what item #2 in the list means), but each year the interest rates flip from one fund to the other (because of item #3 in the list). So if B earns 30% the first year, A earns 20% that year. Then the next year, B earns 20% and A earns 30%, and then in the third year B earns 30% again and A earns 20%. In that case, the money in fund B will be multiplied by (1.3)(1.2)(1.3), while the money in A will be multiplied by (1.2)(1.3)(1.2). So the ratio of the money in the two funds will be (since the amounts invested in each are equal)
(1.3)(1.2)(1.3) / (1.2)(1.3)(1.2) = (1.3)/(1.2) = 13/12
(1.3)(1.2)(1.3) / (1.2)(1.3)(1.2) = (1.3)/(1.2) = 13/12
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