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Grace makes an initial deposit of x dollars into a savings

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ghostdude
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Grace makes an initial deposit of x dollars into a savings [#permalink] New post   25 May 2011, 11:55
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E

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0% (00:00) correct 100% (02:47) wrong based on 2 sessions
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Grace makes an initial deposit of x dollars into a savings account with a z percent interest rate, compounded annually. On the same day, Georgia makes an initial deposit of y dollars into a savings account with a z percent annual interest rate, compounded quarterly. Assuming that neither Grace nor Georgia makes any other deposits or withdrawals and that x, y, and z are positive numbers no greater than 50, whose savings account will contain more money at the end of exactly one year?

(1) z = 4

(2) 100y = zx

OPEN DISCUSSION OF THIS QUESTION IS HERE: grace-makes-an-initial-deposit-of-x-dollars-into-a-savings-a-123186.html



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B
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Spidy001
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Re: Grace makes an initial deposit of x dollars into a savings [#permalink] New post   Updated on: 25 May 2011, 18:59
Grace savings by the end of the year = x(1 +(z/100))

Georgia savings by the end of the year = y(1+(z/100))

So this can be easily found if we know relation between x and y .

1. Not sufficient

as we dont know anything about x and y.

2. Sufficient

(1+z/100)x vs (1+z/100)y

100y/z vs y

100/z vs 1

as z varies from 1 to 50 ,100/z will always be greater than 1

Hence grace will have more in her savings account by the end of the year.

Answer is B.

Originally posted by Spidy001 on 25 May 2011, 16:46.
Last edited by Spidy001 on 25 May 2011, 18:59, edited 1 time in total.
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Re: Grace makes an initial deposit of x dollars into a savings [#permalink] New post   25 May 2011, 17:54
I think answer could be B here.

Grace savings G1 = x (1+z/100)
Georgia's savings G2 = y (1+ z/q*100)^nq
st - 1 ==> z = 4; not sufficient
st - 2 ==> 100 * y = zx
==> x = 100*y/z and given x, y and z are >0 and <=50
plugging in the extreme possible values of x, y and z in above equation -
x = 50, y =1 and z = 2
x = 50, y = 25 and z = 50
x = 2, y =1 and z = 50

notice that y cannot have value greater than 25 and x can have value of 50.
if you plug these values in G1 and G2 equations; G1 > G2 for all possibilities.
So st -2 is sufficient alone.
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Re: Grace makes an initial deposit of x dollars into a savings [#permalink] New post   26 May 2011, 00:56
its is asking x(1+z/100) is > | < y(1+z/400)^4

a gives x(1+4/100) and y(1+4/400) ^ 4
so since we have no idea of x and y nothing can be concluded.
Not sufficient.

b x(1+z/100) = x + y

and y(1+z/400)^4 = y^4 + 4y^3 * (z/400) + 6 y^2 * (z/400)^2 + 4y * (z/400)^3 + (z/400)^4

gives y(1+z/400)^4 > than x+y. since x,y and z are all >0 but <50.

thus B.
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Re: Grace makes an initial deposit of x dollars into a savings [#permalink] New post   03 Dec 2017, 00:58
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ghostdude wrote:
Grace makes an initial deposit of x dollars into a savings account with a z percent interest rate, compounded annually. On the same day, Georgia makes an initial deposit of y dollars into a savings account with a z percent annual interest rate, compounded quarterly. Assuming that neither Grace nor Georgia makes any other deposits or withdrawals and that x, y, and z are positive numbers no greater than 50, whose savings account will contain more money at the end of exactly one year?

(1) z = 4

(2) 100y = zx

OPEN DISCUSSION OF THIS QUESTION IS HERE: grace-makes-an-initial-deposit-of-x-dollars-into-a-savings-a-123186.html


OPEN DISCUSSION OF THIS QUESTION IS HERE: grace-makes-an-initial-deposit-of-x-dollars-into-a-savings-a-123186.html



Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Data Sufficiency (DS) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
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gmatclubot
Re: Grace makes an initial deposit of x dollars into a savings [#permalink]
03 Dec 2017, 00:58
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