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# The annual interest rate earned by an investment increased

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Manager
Joined: 05 Jul 2006
Posts: 197
The annual interest rate earned by an investment increased [#permalink]

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18 Aug 2006, 06:52
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

The annual interest rate earned by an investment increased by 10% from last year to this year. If the annual interest rate earned by the investment this year was 1%, what was teh annual interest rate last year?
A.1%
B.1.1%
C.9.1%
D.10%
E.10.8%
VP
Joined: 02 Jun 2006
Posts: 1260

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18 Aug 2006, 09:04
lan583 wrote:
The annual interest rate earned by an investment increased by 10% from last year to this year. If the annual interest rate earned by the investment this year was 1%, what was teh annual interest rate last year?
A.1%
B.1.1%
C.9.1%
D.10%
E.10.8%

Think C should be 0.91% which should be the right answer.
Senior Manager
Joined: 14 Jul 2005
Posts: 402

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18 Aug 2006, 09:46
Agree with haas_mba... 0.91% is correct
18 Aug 2006, 09:46
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# The annual interest rate earned by an investment increased

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