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.
Sep 2107:00 PM EDT
-10:00 PM EDT
Boost your GMAT score in less than one month in a live online class + 6 months access to TTP OnDemand video courses included!
27 Jun 2022, 13:15
Kudos
Bookmarks
D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
69% (02:05) correct
31%
(02:32)
wrong
based on 204
sessions
History
Date
Time
Result
Not Attempted Yet
Mary deposited sum of x dollars into an account that earned 4% annual interest compounded annually. One year later she deposited additional x dollars in the account. Consider that there were no other transactions and if the account showed y dollars at the end of the two years, which of the following expresses x in terms of y?
(A) \(\frac{y}{2.04}\)
(B) \(\frac{y}{1.12}\)
(C) \(\frac{y}{2.2}\)
(D) \(\frac{y}{1.04 × 2.04}\)
(E) \(\frac{y}{(1.04)^2 × 2.04}\)
(A) \(\frac{y}{2.04}\)
(B) \(\frac{y}{1.12}\)
(C) \(\frac{y}{2.2}\)
(D) \(\frac{y}{1.04 × 2.04}\)
(E) \(\frac{y}{(1.04)^2 × 2.04}\)
27 Jun 2022, 14:23
Kudos
Bookmarks
This question is almost the same question #155 in the official guide 2022.
Attachments
E1D482DC-9573-4B3A-8997-B3233B65AF44.jpeg [ 436.01 KiB | Viewed 2821 times ]
28 Jun 2022, 03:00
Kudos
Bookmarks
Here, after 2nd year x dollar become= x* (1+4/100)^2= x * 1.04^2
after 1st year, x dollar deposited will accumulate= x * (1+4/100)=x+1.04
Given that, x * 1.04^2 +x * 1.04= Y
=>x* (1.04^2+1.04)=Y
=>x= Y/(1.04^2+1.04) (ANS)
after 1st year, x dollar deposited will accumulate= x * (1+4/100)=x+1.04
Given that, x * 1.04^2 +x * 1.04= Y
=>x* (1.04^2+1.04)=Y
=>x= Y/(1.04^2+1.04) (ANS)
