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# The difference in compound interest on a deposit (Compounded annually)

Author Message
Intern
Joined: 08 Aug 2012
Posts: 9
GMAT 1: 620 Q47 V30
The difference in compound interest on a deposit (Compounded annually)  [#permalink]

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02 Mar 2018, 07:53
00:00

Difficulty:

(N/A)

Question Stats:

100% (01:35) correct 0% (00:00) wrong based on 4 sessions

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The difference in compound interest on a deposit (Compounded annually) in year 1 and year 2 is \$40. Had the interest rate been three times its present value, the difference would have been how much?

A) 40/3
B) 40
C) 120
D) 360
E) 420

Somehow I am not able to get the equations right..pls help!

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Math Expert
Joined: 02 Sep 2009
Posts: 52360
Re: The difference in compound interest on a deposit (Compounded annually)  [#permalink]

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02 Mar 2018, 07:55
sameersaluja wrote:
The difference in compound interest on a deposit (Compounded annually) in year 1 and year 2 is \$40. Had the interest rate been three times its present value, the difference would have been how much?

A) 40/3
B) 40
C) 120
D) 360
E) 420

Somehow I am not able to get the equations right..pls help!

Discussed here: the-difference-in-compound-interest-earned-on-a-deposit-compounded-an-189693.html

Hope it helps.

--== Message from the GMAT Club Team ==--

THERE IS LIKELY A BETTER DISCUSSION OF THIS EXACT QUESTION.
This discussion does not meet community quality standards. It has been retired.

If you would like to discuss this question please re-post it in the respective forum. Thank you!

To review the GMAT Club's Forums Posting Guidelines, please follow these links: Quantitative | Verbal Please note - we may remove posts that do not follow our posting guidelines. Thank you.

_________________
Re: The difference in compound interest on a deposit (Compounded annually) &nbs [#permalink] 02 Mar 2018, 07:55
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