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09 May 2016, 11:20
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D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
Question Stats:
74% (02:32) correct
26%
(02:49)
wrong
based on 124
sessions
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Not Attempted Yet
Right now, Al and Eliot have bank accounts, and Al has more money than Eliot. The difference between their two accounts is 1/12 of the sum of their two accounts. If Al’s account were to increase by 10% and Eliot’s account were to increase by 20%, then Al would have exactly $22 more than Eliot in his account. How much money does Eliot have in his account right now?
(A) $110
(B) $120
(C) $180
(D) $220
(E) $260
Word problems can be tricky, and one tricky issue is assigning variables. For a discussion of some guidelines, as well as the OE for this particular question, see:
Intro to GMAT Word Problems, Part 2: Assigning Variables
Mike
(A) $110
(B) $120
(C) $180
(D) $220
(E) $260
Word problems can be tricky, and one tricky issue is assigning variables. For a discussion of some guidelines, as well as the OE for this particular question, see:
Intro to GMAT Word Problems, Part 2: Assigning Variables
Mike
09 May 2016, 11:38
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mikemcgarry
Lets assume Al have amount A in his bank account and Eliot's bank account got E amount. We can form an equation from the first condition.
A-E = 1/12*(A+E) ==> 11A = 13E ------------ (1)
Second condition gives two different amounts, Al's amount = 1.1A and Eliot's amount = 1.2E
1.1A = 22 + 1.2E ==> 11A =220 +12E -------(2)
Substituting (1) in (2):
13E = 220+12E ==> E = 220
06 May 2020, 05:38
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mikemcgarry
We can create the equations:
A - E = 1/12(A + E)
12A - 12E = A + E
11A = 13E
and
1.1A = 1.2E + 22
11A = 12E + 220
Subtracting the second equation from the first,we have:
0 = E - 220
220 = E
Answer: D
