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# The interest charged on a loan is p dollars per \$1,000 for the first

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Math Expert
Joined: 02 Sep 2009
Posts: 51188
The interest charged on a loan is p dollars per \$1,000 for the first  [#permalink]

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29 Oct 2017, 00:33
00:00

Difficulty:

15% (low)

Question Stats:

86% (01:17) correct 14% (01:16) wrong based on 51 sessions

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The interest charged on a loan is p dollars per \$1,000 for the first month and q dollars per \$1,000 for each month after the first month. How much interest will be charged during the first three months on a loan of \$10,000?

(A) 30p
(B) 30q
(C) p + 2q
(D) 20p + 10q
(E) 10p + 20q

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Re: The interest charged on a loan is p dollars per \$1,000 for the first  [#permalink]

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29 Oct 2017, 07:07
Bunuel wrote:
The interest charged on a loan is p dollars per \$1,000 for the first month and q dollars per \$1,000 for each month after the first month. How much interest will be charged during the first three months on a loan of \$10,000?

(A) 30p
(B) 30q
(C) p + 2q
(D) 20p + 10q
(E) 10p + 20q

Interest for the first month is 10p
Interest for the 2nd month will be 10q
Interest for the 3rd month will be 10q

Total Interest = 10p + 20q

Thus, correct answer will be (E) 10p + 20q
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Re: The interest charged on a loan is p dollars per \$1,000 for the first  [#permalink]

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29 Oct 2017, 07:11
Interest for the first month is 10*p
Interest for the next 2 month will be 2*10q
Total Interest = 10p + 20q

Thus, correct answer will be (E)
Re: The interest charged on a loan is p dollars per \$1,000 for the first &nbs [#permalink] 29 Oct 2017, 07:11
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