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The annual interest rate earned by an investment increased by 10 perce

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Bunuel
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The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   03 Jul 2016, 11:36
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The annual interest rate earned by an investment increased by 10 percent from last year to this year. If the annual interest rate earned by the investment this year was 11 percent, what was the annual interest rate last year?

A) 1%
B) 1.1%
C) 9.1%
D) 10%
E) 10.8%
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D
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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   14 Apr 2017, 05:11
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I had to read the question stem 4 times to make sense of what the question was asking. Very confusing, but here it goes my approach.

Say you're not able to quickly set up your work as our friends did above, just do a word by word translation.

Call '\(x\)' the interest rate last year

Some value x increased by 10% last year and the result is a rate of 11%.

\(\cfrac { 110 }{ 100 } (x)=11\\ x=\cfrac { 11\ast 100 }{ 110 } \\ x=10\)
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The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   17 May 2017, 15:40
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The annual interest rate earned by an investment increased by 10 percent from last year to this year. If the annual interest rate earned by the investment this year was 11 percent, what was the annual interest rate last year?

A) 1%
B) 1.1%
C) 9.1%
D) 10%
E) 10.8%

Let annual interest rate last year be = x%
Annual interest rate increased by 10% from last year to this year = 110% of x = 1.1x%
Interest rate this year = 11% = 1.1x %
\(\frac{1.1x}{100}\) = \(\frac{11}{100}\)
x = \(\frac{11}{1.1}\) = 10%
Answer D...

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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   03 Jul 2016, 23:59
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should be 10

increased it by 10 % will be =10+1=11
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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   10 Jul 2016, 17:27
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Let us suppose the interest rate last year is X, This year the interest rate is increased by 10%. Hence this year interest rate would be 1.1*X.
Setting up the equation -----> 11=1.1*x
X=10%

Option D
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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   22 May 2017, 18:42
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Bunuel wrote:
The annual interest rate earned by an investment increased by 10 percent from last year to this year. If the annual interest rate earned by the investment this year was 11 percent, what was the annual interest rate last year?

A) 1%
B) 1.1%
C) 9.1%
D) 10%
E) 10.8%


We can create the following equation in which x = the interest rate last year:

1.1x = 0.11

x = 0.11/1.1 = 11/110 = 1/10 = 0.1 = 10%

Answer: D
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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   20 Jun 2019, 05:14
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Bunuel wrote:
The annual interest rate earned by an investment increased by 10 percent from last year to this year. If the annual interest rate earned by the investment this year was 11 percent, what was the annual interest rate last year?

A) 1%
B) 1.1%
C) 9.1%
D) 10%
E) 10.8%



So here is my solution:

Let x be the original interest rate and A be the amount.
Given x increased by 10 percent from last year to this year
So current interest rate is x+0.1x
The annual intrest rate this year was 11 percent of the amount, So
x+0.1x = 0.11A
1.1x=0.11A
x= 1/10 of A
Since the answer is in percentage x% = 10% of A

Can someone please show me a simpler method to do this? The question is rated at 5 percent difficulty so I'm hoping there is a simpler way.

Thanks
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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   27 Jul 2020, 02:41
How would have the wording of the question look like if the interest rate had increased from 1% to 11%?
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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   09 Oct 2020, 12:46
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Bunuel wrote:
The annual interest rate earned by an investment increased by 10 percent from last year to this year. If the annual interest rate earned by the investment this year was 11 percent, what was the annual interest rate last year?

A) 1%
B) 1.1%
C) 9.1%
D) 10%
E) 10.8%



The original interest rate of Last year was = x
Total after increase = 1.10x

Interest earned this year 11% = 0.11

So, 1.10x = 0.11
x = 10%

Answer D.
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The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   18 Nov 2020, 04:56
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Bunuel wrote:
The annual interest rate earned by an investment increased by 10 percent from last year to this year. If the annual interest rate earned by the investment this year was 11 percent, what was the annual interest rate last year?

A) 1%
B) 1.1%
C) 9.1%
D) 10%
E) 10.8%


Let, Before increase interest rate was 100; After increasing 10% the interest rate was 110

Now, New is rate 110, Old rate was 100
If new rate is 11 the Old rate was:

\(\frac{100}{110}\)*\(100\)

=10%

The Answer is D.
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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   18 Nov 2020, 08:57
Bunuel wrote:
The annual interest rate earned by an investment increased by 10 percent from last year to this year. If the annual interest rate earned by the investment this year was 11 percent, what was the annual interest rate last year?

A) 1%
B) 1.1%
C) 9.1%
D) 10%
E) 10.8%

Clean (D) 110% of 10 = 11, Hence Answer must be (D)
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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   03 Jun 2021, 08:47
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Thank God for this forum, my brain was hurting reading this question. At one point I was reading it aloud, hoping it would make some sense.
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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink] New post   29 Aug 2023, 21:18
diegocml wrote:
I had to read the question stem 4 times to make sense of what the question was asking. Very confusing, but here it goes my approach.

Say you're not able to quickly set up your work as our friends did above, just do a word by word translation.

Call '\(x\)' the interest rate last year

Some value x increased by 10% last year and the result is a rate of 11%.

\(\cfrac { 110 }{ 100 } (x)=11\\ x=\cfrac { 11\ast 100 }{ 110 } \\ x=10\)


Why dont you have a divided by 100 under the 11
so 11/100 (since a percent means out of a 100)

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Re: The annual interest rate earned by an investment increased by 10 perce [#permalink]
29 Aug 2023, 21:18
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