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# GMAT Prep Test 1 - Interest on 10000\$ for n years

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Intern
Joined: 23 Jan 2009
Posts: 4
GMAT Prep Test 1 - Interest on 10000\$ for n years [#permalink]

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02 Feb 2009, 09:32
00:00

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions

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I am sorry, if I missed this question anywhere earlier in the forum, but I just couldn't find it.
So here it is, please explain the way to the solution.
Thanks!

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SVP
Joined: 07 Nov 2007
Posts: 1757
Location: New York
Re: GMAT Prep Test 1 - Interest on 10000\$ for n years [#permalink]

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02 Feb 2009, 09:55
1
KUDOS
feigin wrote:
I am sorry, if I missed this question anywhere earlier in the forum, but I just couldn't find it.
So here it is, please explain the way to the solution.
Thanks!

For simple interst
= P (Principle) r (rate/year) t (term or years)
= 10000*(x/100)*n

C
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Intern
Joined: 23 Jan 2009
Posts: 4
Re: GMAT Prep Test 1 - Interest on 10000\$ for n years [#permalink]

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02 Feb 2009, 11:38
OA is indeed C.

I didn't notice it is simple interest. For some reason I was sure it is compounded annually.

10x
Director
Joined: 25 Oct 2008
Posts: 574
Location: Kolkata,India
Re: GMAT Prep Test 1 - Interest on 10000\$ for n years [#permalink]

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25 Jul 2009, 05:53
Wow I wish I get this question on the test!!;)

--== Message from GMAT Club Team ==--

This is not a quality discussion. It has been retired.

If you would like to discuss this question please re-post it in the respective forum. Thank you!

To review the GMAT Club's Forums Posting Guidelines, please follow these links: Quantitative | Verbal Please note - we may remove posts that do not follow our posting guidelines. Thank you.

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http://gmatclub.com/forum/countdown-beginshas-ended-85483-40.html#p649902

Re: GMAT Prep Test 1 - Interest on 10000\$ for n years   [#permalink] 25 Jul 2009, 05:53
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