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

It is currently 14 Aug 2018, 22:03

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 money is invested at r percent per annum, will the money become at

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

Hide Tags

Manager
Manager
User avatar
S
Status: The journey is always more beautiful than the destination
Affiliations: Computer Science
Joined: 24 Apr 2017
Posts: 56
Location: India
Concentration: Statistics, Strategy
GMAT 1: 570 Q40 V28
GPA: 3.14
If money is invested at r percent per annum, will the money become at  [#permalink]

Show Tags

New post 07 Apr 2018, 02:47
1
00:00
A
B
C
D
E

Difficulty:

  55% (hard)

Question Stats:

56% (01:21) correct 44% (01:52) wrong based on 27 sessions

HideShow timer Statistics

If money is invested at r percent per annum, will the money become at least three times itself in 20/r years?

(1) The sum amounts to twice itself in twenty years at r% p a simple interest.
(2) The interest calculated at simple interest for one year is 1/50th part of the money invested.

_________________

Sky is the limit. 800 is the limit.

Manager
Manager
avatar
S
Joined: 30 Mar 2017
Posts: 136
GMAT 1: 200 Q1 V1
Reviews Badge CAT Tests
Re: If money is invested at r percent per annum, will the money become at  [#permalink]

Show Tags

New post 07 Apr 2018, 13:01
Basically we need to find r.

Statement 1
Let's say we have initial investment, P, which doubles in 20 years. So interest earned is P.
\(P=P(\frac{r}{100})20\)
We can find r.
Sufficient

Statement 2
\(\frac{1}{50}P=P(\frac{r}{100})\)
We can find r.
Sufficient

Answer: D
Re: If money is invested at r percent per annum, will the money become at &nbs [#permalink] 07 Apr 2018, 13:01
Display posts from previous: Sort by

If money is invested at r percent per annum, will the money become at

  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®.