Since 1980, when the Depository Institutions Deregulation

Question

Since 1980, when the Depository Institutions Deregulation act allowed  interest rates for checking and savings accounts to be determined by how the market is rather than by what the government edict says, nearly all banks  paid considerably higher rates than they had prior to the Act's passing.

a) interest rates for checking and savings accounts to be determined by how the market is rather than by what the government edict says, nearly all banks

b) interest rates for checking and savings accounts to be based on the performance of the market rather than the government edict , nearly all banks

c) that interest rates for checking and saving accounts be determined on how the market is rather than government edict, nearly all banks have

d) interest rates for checking and saving accounts to be based on the market rather than government edict , nearly all banks have

e) that interest rates for checking and saving accounts be based on the market rather than government edict, nearly all banks

BG · Answer

Hallo,
I am hesitating between B and D. What inclines me toward D is present perfect. The action that started in 1980 continues in the present.Additionally,allowed, IMO, should be followed by 'to". Think that it is D
may be i am wrong

giddi77 · Answer

My pick also is D for
- present perfect tense necessary to describe the sequence of events from 1980
-more concise and clear

sumitsingh · Answer

hi frnds

as far as tense is considered B and D both have pres. perfect the diff is 

depends on performance of market
depends on market 

i think it is performance of market 


and other diff is savings accounts /saving account in which i have a doubt 

plz clarify

myc2004 · Answer

I pick B because "banks paid" which is the simple past because the act of paying higher interest rates is a action that is done and over with prior to the act. Anyone else disagree? I am looking to improve my SC hence the reason I am here

sm176811 · Answer

Agree with D to...
Forst it is more concise and secondly 'have' shud be there, cos it started in the past and continues in the present!

selene · Answer

^ D ^

 Since  1980, when the Depository Institutions Deregulation act  allowed  interest rates for checking and saving accounts  to  be based on the market rather than government edict , nearly all banks  have paid  considerably higher rates than they had prior to the Act's passing. 

1) we need present perfect "have paid" because we have "since"

2) "allow ... to "

Beyond700 · Answer

'D' & 'B' are quite close except the 'have' at the end. 

'D' seems to be right choice

buzzgaurav · Answer

OA is D.

Good job BG. 'Since' indicates an action still continues hence we need 'have'

Since 1980, when the Depository Institutions Deregulation

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards