Events & Promotions
|
|
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Sep 0201:00 PM EDT
-11:59 PM EDT
Take 30% off all study plans with code COURSEWORK - Expires on Monday 9/7
Sep 0410:00 AM PDT
-11:00 AM PDT
What does test anxiety really look like on the GMAT? For many test takers, it does not look like a panic attack. Instead, it shows up as brain fog, rereading, negative comparisons, mental noise....
Sep 0410:00 AM EDT
-11:59 PM EDT
We’ve worked incredibly hard to build TTP into the best test prep experience possible, and it would mean a lot to us to win Newsweek’s 2026 Readers’ Choice Award for Best Test Prep. If TTP has helped you, we’d be incredibly grateful for your vote.
Sep 0609:30 AM EDT
-12:30 PM EST
Top scores are possible when you enroll in a powerful EA course, taught live online + 6 months access to TTP OnDemand video courses included! Perfect class schedule and easy course access for working professionals. Class starts Sundays Sept. 6, 2026.- Sep 07
12:01 AM PDT
-11:59 PM PDT
On the 7th, GMAT Club Tests will be Free! Including all the Quizzes, Questions, and Tests. 12 AM - 11:59 PM PDT - Sep 07
10:00 AM PDT
-11:00 AM PDT
A complete walkthrough of GMAT Club’s free 12-week GMAT study plan: what you study each week, how progress and goals are tracked, how the error log works, and how your practice unlocks paid tools at no cost. - Sep 09
07:00 AM PDT
-10:00 AM PDT
Meet AdComs and explore top Master’s programs - MiM, MiF, MSc, MSBA and more. - Application Fee Waivers - Free 1-Week of GMAT Club Tests: - Master's Application Toolkit - Grand Prize Giveaway - Sep 09
10:00 AM PDT
-11:00 AM PDT
Three MBA applications. Three rejections. No interview invites. A year later, Aman was admitted to Cambridge Judge, SMU, and IMD. In this episode of MBA Admit Stories, Aman shares how he rebuilt his MBA application... 
Sep 1507:00 PM EDT
-09:00 PM EST
Elite scores are possible when you enroll in a powerful GMAT course, taught live online + 6 months access to TTP OnDemand video courses included! Class starts Tues/Thurs Sept. 15, 2026 - Nov. 15, 2027, 7:00pm-9:00pm EST
Sep 2108:00 PM EDT
-10:00 PM EDT
Boost your GMAT score in less than one month in a live online class + 6 months access to TTP OnDemand video courses included! Class starts Mon, Tues, Wed, Thur, Fri Sept. 21, 2026 - Oct. 9, 2027, 7:00pm-10:00pm EST
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
75%
(hard)
Question Stats:
52% (01:52) correct
48%
(01:55)
wrong
based on 336
sessions
History
Date
Time
Result
Not Attempted Yet
Torres invested $P in a long term investment plan for 24 years at an interest compound annually. But due to some financial issues he had to withdraw money at the end of 6 years.How much more amount could he have gotten after 24 years if he received $3P after 6 years , if it's known that there were no pre-closing charges or deductions in the plan?
A. 9P
B. 12P
C. 72P
D. 78P
E. 81P
A. 9P
B. 12P
C. 72P
D. 78P
E. 81P
Posts: 90
This question is tricky at first since we don't know the compounding interest rate, and feels like perhaps we would need a compound interest formula to solve, but let's consider.
It started at P and then compounded 6 times and tripled itself to 3P. So this is more like a Geometric sequence question!
The rule is "P triples every 6 years."
Year 1 - P
Year 6 - 3P
Year 12 - 9P
Year 18 - 27P
Year 24 - 81P
How much more means we subtract 3P from 81P:
81P-3P = 78P
The answer is (D). This is an interesting question -- a sequence in disguise!
It started at P and then compounded 6 times and tripled itself to 3P. So this is more like a Geometric sequence question!
The rule is "P triples every 6 years."
Year 1 - P
Year 6 - 3P
Year 12 - 9P
Year 18 - 27P
Year 24 - 81P
How much more means we subtract 3P from 81P:
81P-3P = 78P
The answer is (D). This is an interesting question -- a sequence in disguise!
General Discussion
DH99
Solution:
P is the term initially invested. Torres gets 3P after 6 years.We need to find what more amount could he have gotten after 24 years.
Let’s arrange the data:
Amount Time
? 24
P 0
3P 6
3P*3 12
3P*3*3 18
3P*3*3*3 24
= 81P
Therefore, more amount Toress would have got= 81P-3P=78P
FillFM
Joined: 22 Jun 2017
Last visit: 07 Dec 2019
Posts: 45
Location: Brazil
Schools: Rotman '21 McCombs '21 Foster '21 Arizona State'21 Carlson '21 Goizueta '21 Jones '21 Olin '21 Cox '21 Simon '21
GMAT 1: 600 Q48 V25
GPA: 3.5
WE:Engineering (Energy)
Products:
Schools: Rotman '21 McCombs '21 Foster '21 Arizona State'21 Carlson '21 Goizueta '21 Jones '21 Olin '21 Cox '21 Simon '21
GMAT 1: 600 Q48 V25
Posts: 45
Option D
6y: P > 3P
12y: 3P > 9P
18y: 9P >27P
24y: 27P > 81P
81P - 3P = 78P
6y: P > 3P
12y: 3P > 9P
18y: 9P >27P
24y: 27P > 81P
81P - 3P = 78P
mangamma
24 years / 6 years as every 6 years the investment becomes thrice of the investment . So we get 24/6 = 4 intervals .
Now,
P$ ---------3P$ (1-6 YEARS)
3P$--(*3)--9P& (6-12 YEARS)
9P$--(*3)--27P$ (12- 18 YEARS)
27P$-(*3)--81P$ (18- 24 YEARS)
NOW How much more amount could he have gotten after 24 years , simply find difference between the amt he received and the final amt which he would have received after 24 years = 3P$ -81P$ = 78$ ,
ANSWER IS D
Let the rate of interest be X%
3P = P( 1+X% )^6
3 = ( 1+X% )^6
Let A be amount after 24 years
A = P( 1+X% )^24
A = P(( 1+X% )^6)^4
A = P( 3 )^4
A = 81P
So
81P - 3P = 78P
So Torres would have gotten 78P more if he would have invested for 24 years
Correct answer is D
3P = P( 1+X% )^6
3 = ( 1+X% )^6
Let A be amount after 24 years
A = P( 1+X% )^24
A = P(( 1+X% )^6)^4
A = P( 3 )^4
A = 81P
So
81P - 3P = 78P
So Torres would have gotten 78P more if he would have invested for 24 years
Correct answer is D
Automated notice from GMAT Club BumpBot:
A member just gave Kudos to this thread, showing it’s still useful. I’ve bumped it to the top so more people can benefit. Feel free to add your own questions or solutions.
This post was generated automatically.
_________________
A member just gave Kudos to this thread, showing it’s still useful. I’ve bumped it to the top so more people can benefit. Feel free to add your own questions or solutions.
This post was generated automatically.
_________________
Solving this question helps.
Taking a timed set of similar questions in
GMAT Club Forum Quiz →
is even better.
Moderator:
Announcements
Tuck at Dartmouth
AI at Dartmouth Tuck: How the School Is Preparing Leaders for the Age of Artificial Intelligence
Inside the courses, research, and hands-on learning defining wise, decisive leadership in an AI-driven world.
Read More
Inside the courses, research, and hands-on learning defining wise, decisive leadership in an AI-driven world.
Read More
Top 5 GMAT Debrief Videos
Success stories and strategies from high-scoring candidates.