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

It is currently 20 Jul 2018, 00:09

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

If $2,000 were invested at 10% annual interest, how much profit would

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

Hide Tags

Expert Post
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 47137
If $2,000 were invested at 10% annual interest, how much profit would  [#permalink]

Show Tags

New post 17 Jan 2017, 10:16
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

85% (00:15) correct 15% (00:22) wrong based on 106 sessions

HideShow timer Statistics

Director
Director
User avatar
P
Joined: 05 Mar 2015
Posts: 980
Re: If $2,000 were invested at 10% annual interest, how much profit would  [#permalink]

Show Tags

New post 17 Jan 2017, 10:28
Bunuel wrote:
If $2,000 were invested at 10% annual interest, how much profit would the investment yield, in dollars, after a year?

A. $0.2
B. $2
C. $20
D. $200
E. $2,200


Profit=10% of 2000 for 1 year
=200

Ans D
Manager
Manager
User avatar
B
Joined: 29 Feb 2016
Posts: 106
Location: India
GMAT 1: 700 Q49 V35
GPA: 3
GMAT ToolKit User
Re: If $2,000 were invested at 10% annual interest, how much profit would  [#permalink]

Show Tags

New post 18 Jan 2017, 08:37
Bunuel wrote:
If $2,000 were invested at 10% annual interest, how much profit would the investment yield, in dollars, after a year?

A. $0.2
B. $2
C. $20
D. $200
E. $2,200


profit is nothing but interest attained after a period of an year

SI = P*T*R/100

= 2000 * 1 * 10 /100 = 200 ANS : D
_________________

Find what you love and let it kill you. — Charles Bukowski

Expert Post
2 KUDOS received
Target Test Prep Representative
User avatar
G
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 2959
Location: United States (CA)
Re: If $2,000 were invested at 10% annual interest, how much profit would  [#permalink]

Show Tags

New post 23 Jan 2017, 07:11
2
Bunuel wrote:
If $2,000 were invested at 10% annual interest, how much profit would the investment yield, in dollars, after a year?

A. $0.2
B. $2
C. $20
D. $200
E. $2,200


The profit the investment yields is the amount of interest earned. We can use the simple interest formula:

Interest = principal x rate x time

I = p x r x t

I = 2,000 x 10/100 x 1

I = 2,000 x 1/10

I = 200

Answer: D
_________________

Scott Woodbury-Stewart
Founder and CEO

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

Manager
Manager
avatar
S
Joined: 03 Jan 2017
Posts: 178
Re: If $2,000 were invested at 10% annual interest, how much profit would  [#permalink]

Show Tags

New post 12 Mar 2017, 08:06
don't confuse profit with the total return:
profit would be 200$ (2000*10%)
while total return is 2200(2000*110%)
Board of Directors
User avatar
G
Status: QA & VA Forum Moderator
Joined: 11 Jun 2011
Posts: 3653
Location: India
GPA: 3.5
WE: Business Development (Commercial Banking)
GMAT ToolKit User Premium Member
Re: If $2,000 were invested at 10% annual interest, how much profit would  [#permalink]

Show Tags

New post 12 Mar 2017, 12:26
Bunuel wrote:
If $2,000 were invested at 10% annual interest, how much profit would the investment yield, in dollars, after a year?

A. $0.2
B. $2
C. $20
D. $200
E. $2,200


\(Profit = Interest\)

Thus, interest = \(\frac{2000*10}{100}\)

So, Profit = \(200\)

Hence, correct answer must be (D) 200
_________________

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 )

Director
Director
User avatar
D
Joined: 04 Dec 2015
Posts: 700
Location: India
Concentration: Technology, Strategy
Schools: ISB '19, IIMA , IIMB, XLRI
WE: Information Technology (Consulting)
GMAT ToolKit User
Re: If $2,000 were invested at 10% annual interest, how much profit would  [#permalink]

Show Tags

New post 18 May 2017, 13:03
If $2,000 were invested at 10% annual interest, how much profit would the investment yield, in dollars, after a year?
A. $0.2
B. $2
C. $20
D. $200
E. $2,200

SI = \(\frac{PTR}{100}\) (SI = Simple interest, P = Principal, T = Time, R = Rate of interest)
SI = \(\frac{2000 * 1 * 10}{100}\) = 200
Hence profit after a year = $200
Answer D...

_________________
Kindly press "+1 Kudos" to appreciate :)
Intern
Intern
avatar
B
Joined: 28 Sep 2017
Posts: 4
GMAT 1: 620 Q43 V36
WE: Business Development (Non-Profit and Government)
Re: If $2,000 were invested at 10% annual interest, how much profit would  [#permalink]

Show Tags

New post 11 Oct 2017, 02:06
This one shoudn't even take 5 seconds. 10% of 2,000 = 200.
Expert Post
Target Test Prep Representative
User avatar
G
Status: Head GMAT Instructor
Affiliations: Target Test Prep
Joined: 04 Mar 2011
Posts: 2679
Re: If $2,000 were invested at 10% annual interest, how much profit would  [#permalink]

Show Tags

New post 13 Oct 2017, 09:24
Bunuel wrote:
If $2,000 were invested at 10% annual interest, how much profit would the investment yield, in dollars, after a year?

A. $0.2
B. $2
C. $20
D. $200
E. $2,200


After 1 year the investment is worth 2,000 x 0.1 + 2000 = 2,200 dollars. So, a profit of 200 dollars is made.

Answer: D
_________________

Jeffery Miller
Head of GMAT Instruction

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

Re: If $2,000 were invested at 10% annual interest, how much profit would &nbs [#permalink] 13 Oct 2017, 09:24
Display posts from previous: Sort by

If $2,000 were invested at 10% annual interest, how much profit would

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

Events & Promotions

PREV
NEXT


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®.