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Sonya invested \$20,000 in a mutual fund scheme, which calculated and r

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Joined: 18 Jan 2018
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Concentration: General Management, Healthcare
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Sonya invested \$20,000 in a mutual fund scheme, which calculated and r  [#permalink]

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20 Mar 2019, 12:47
00:00

Difficulty:

45% (medium)

Question Stats:

65% (01:57) correct 35% (01:33) wrong based on 23 sessions

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Sonya invested \$20,000 in a mutual fund scheme, which calculated and reinvested the interest earned in the scheme annually. She received a return of 10 percent in the first year, 20 percent in the second year and 5 percent in the third year. By what amount, in dollars, did her money grow in the three years?

A 7000

B 7720

C 9780

D 27000

E 27720
Intern
Joined: 10 Apr 2018
Posts: 2
Re: Sonya invested \$20,000 in a mutual fund scheme, which calculated and r  [#permalink]

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21 Mar 2019, 02:34
baru wrote:
Sonya invested \$20,000 in a mutual fund scheme, which calculated and reinvested the interest earned in the scheme annually. She received a return of 10 percent in the first year, 20 percent in the second year and 5 percent in the third year. By what amount, in dollars, did her money grow in the three years?

A 7000

B 7720

C 9780

D 27000

E 27720

Sol: 20,000*10/100 = 2,000
22,000*20/100= 4,400
26,400*5/100= 1,320
Increase in dollars = 2,000+4,400+1,320 = 7,720 (B)
Re: Sonya invested \$20,000 in a mutual fund scheme, which calculated and r   [#permalink] 21 Mar 2019, 02:34
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