Events & Promotions
|
|
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
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Nov 1811:00 AM PST
-12:00 PM PST
Join us in a live GMAT practice session and solve 30 challenging GMAT questions with other test takers in timed conditions, covering GMAT Quant, Data Sufficiency, Data Insights, Reading Comprehension, and Critical Reasoning questions.
Nov 2211:00 AM IST
-01:00 PM IST
Do RC/MSR passages scare you? e-GMAT is conducting a masterclass to help you learn – Learn effective reading strategies Tackle difficult RC & MSR with confidence Excel in timed test environment- Nov 23
11:00 AM IST
-01:00 PM IST
Attend this free GMAT Algebra Webinar and learn how to master the most challenging Inequalities and Absolute Value problems with ease. 
Nov 2510:00 AM EST
-11:00 AM EST
Prefer video-based learning? The Target Test Prep OnDemand course is a one-of-a-kind video masterclass featuring 400 hours of lecture-style teaching by Scott Woodbury-Stewart, founder of Target Test Prep and one of the most accomplished GMAT instructors.
ShreyashGupta188
06 Jan 2025, 09:08
Kudos
Bookmarks
SUM LENT: 1500/t
AMOUNT RECEIVED: (1500+252t)/t
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
66% (03:07) correct
34%
(03:13)
wrong
based on 606
sessions
History
Date
Time
Result
Not Attempted Yet
In a friendly loan deal, it was decided that Alex will charge on a per month basis, $7 for every $500 lent. For the duration of 't' years, Alex earned $252. Assuming loan amount for the purpose of calculation remains the same for each of the months, from the table, select 'Sum Lent', & 'Amount Received' by Alex after t years.
Make only two selections, one in each column.
Make only two selections, one in each column.
| SUM LENT | AMOUNT RECEIVED | |
| 18000/3 | ||
| (6000+84t)/t | ||
| 1500/t | ||
| (1500+252t)/t | ||
| 50000/t |
ShowHide Answer
Official Answer
SUM LENT: 1500/t
AMOUNT RECEIVED: (1500+252t)/t
06 Jan 2025, 12:44
Kudos
Bookmarks
1. Over one month, Alex will earn \(\frac{Sum \ lent}{500} * 7\).
2. That means after t years, Alex will earn $252 or \(\frac{Sum \ lent}{500} * 7 * 12 * t\). The equation can be simplified: \(\frac{Sum \ lent}{500} * 7 * 12 * t = 252 \rightarrow Sum \ lent = \frac{1500}{t}\).
3. Now the total amount received is equal to what Alex earned and originally lent. So, \(Amount \ received = Earned + Lent = 252 + \frac{1500}{t} = \frac{1500 + 252t}{t}\).
4. Our answer will be: SUM LENT - 1500/t and AMOUNT RECEIVED - (1500+252t)/t.
2. That means after t years, Alex will earn $252 or \(\frac{Sum \ lent}{500} * 7 * 12 * t\). The equation can be simplified: \(\frac{Sum \ lent}{500} * 7 * 12 * t = 252 \rightarrow Sum \ lent = \frac{1500}{t}\).
3. Now the total amount received is equal to what Alex earned and originally lent. So, \(Amount \ received = Earned + Lent = 252 + \frac{1500}{t} = \frac{1500 + 252t}{t}\).
4. Our answer will be: SUM LENT - 1500/t and AMOUNT RECEIVED - (1500+252t)/t.
General Discussion
22 Jan 2025, 22:38
Kudos
Bookmarks
for 't' years interest earned => 252
for one month => 252/(t*12) = 21/t
(converting year to month involves /12)
500 => 7
21/t => x
x = 1500/t
2. Total = Principal + Earned
= 1500/t + 252
= (1500 + 252t)/t
for one month => 252/(t*12) = 21/t
(converting year to month involves /12)
500 => 7
21/t => x
x = 1500/t
2. Total = Principal + Earned
= 1500/t + 252
= (1500 + 252t)/t
