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Last year a certain bond with a face value of $5,000 yielded 6% of its

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Last year a certain bond with a face value of $5,000 yielded 6% of its [#permalink] New post   07 Feb 2021, 03:57
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Last year a certain bond with a face value of $5,000 yielded 6% of its face value in interest. If the bond's selling price was $5,400, approximately what percent of its selling price did it yield in interest last year?

(A) 5.6%
(B) 6.0%
(C) 6.5%
(D) 7.4%
(E) 11.1%
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Hoozan
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Re: Last year a certain bond with a face value of $5,000 yielded 6% of its [#permalink] New post   07 Feb 2021, 04:01
Similar question: https://gmatclub.com/forum/last-year-a- ... 30546.html
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Re: Last year a certain bond with a face value of $5,000 yielded 6% of its [#permalink] New post   07 Feb 2021, 22:24
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Hoozan wrote:
Last year a certain bond with a face value of $5,000 yielded 6% of its face value in interest. If the bond's selling price was $5,400, approximately what percent of its selling price did it yield in interest last year?

(A) 5.6%
(B) 6.0%
(C) 6.5%
(D) 7.4%
(E) 11.1%


Interest yield last year: 6% * 5000 = 300
Question asks what % of the bond's Original selling price was last year's yield?
or x% * 5400 = 300?
x% = 1/18 = 0.05556
x = 5.6%
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Re: Last year a certain bond with a face value of $5,000 yielded 6% of its [#permalink]
07 Feb 2021, 22:24
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