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08 Jan 2021, 10:07
Kudos
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B
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:
58% (01:31) correct
42%
(01:54)
wrong
based on 169
sessions
History
Date
Time
Result
Not Attempted Yet
Sandra saves the same amount of money each month in an account for her children's future college expenses. 10 years from now, will Sandra have saved at least $12,000 more than she currently has in the account?
(1) 10 years from now, Sandra will have saved a total of $20,000 in the account.
(2) Sandra will have saved $110 in the account this month.
(1) 10 years from now, Sandra will have saved a total of $20,000 in the account.
(2) Sandra will have saved $110 in the account this month.
08 Jan 2021, 17:49
Kudos
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Bunuel
Each month, Sandra needs to save \(\frac{12000}{12*10}= $100\) each month in order to save $12000 in 10 years.
Statement 1:
We don't know how much Sandra started out with, the question is asking if she saved $12k more than she did 10 years ago. Insufficient.
Statement 2:
Since each month Sandra saves the same amount, this means she saved $110 for every month during those 10 years. Therefore the money she accumulated is known, sufficient. (Any value here would be sufficient regardless of whether it totals to 12k or not).
Ans: B
12 Jan 2021, 05:51
Kudos
Bookmarks
Bunuel
From statement number (1)
we can deduce that she saves (20 000/(10*12)) per month = (2 000/12) but we cant deduce how much is in her account as of now hence
NOT SUFFICIENT
From statement (2)
we are given she saves 110 per month
so in 10 years she would have saved (110*10*12) we will get 13200 which is greater than 12 000
SUFFICIENT
B
