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Two friends Michel and Carol got a total bonus of $31500.

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Senior Manager
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Joined: 18 Feb 2019
Posts: 283
Location: India
GMAT 1: 490 Q47 V13
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Two friends Michel and Carol got a total bonus of $31500.  [#permalink]

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New post 14 Mar 2019, 05:06
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  55% (hard)

Question Stats:

53% (02:34) correct 47% (03:38) wrong based on 17 sessions

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Two friends Michel and Carol got a total bonus of $31500. Michel deposited the money in a savings account which gives simple interest at the rate of n% per annum, and Carol deposited her amount in an investment plan which gives simple interest 3n/2% per annum. If after 3 years total interest amount received by Michel was 4/3 times of that received by Carol, the bonus received by Carol was how much less than that received by Michel?

A. $1500
B. $10500
C. $15000
D. $21000
E. None of these
Director
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Joined: 18 Jul 2018
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Re: Two friends Michel and Carol got a total bonus of $31500.  [#permalink]

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New post 16 Mar 2019, 10:18
Bonus received by both M+C = 31500
Let the bonus received by Carol be x.
Then the bonus received by Michel is 31500-x.
Now, \(\frac{(31500-x)*n*3}{100} = \frac{4*x*3n*3}{100*2*3}\)
31500n-xn = 2xn
3x = 31500
x = 10500.
The bonus received by Carol is 10500
Bonus received by Michel is 21000
Difference is 10500

B is the answer.
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Re: Two friends Michel and Carol got a total bonus of $31500.  [#permalink]

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New post 18 Mar 2019, 08:22
Two friends Michel and Carol got a total bonus of $31500. Michel deposited the money in a savings account which gives simple interest at the rate of n% per annum, and Carol deposited her amount in an investment plan which gives simple interest 3n/2% per annum. If after 3 years total interest amount received by Michel was 4/3 times of that received by Carol, the bonus received by Carol was how much less than that received by Michel?

A. $1500
B. $10500
C. $15000
D. $21000
E. None of these

Hi,

Can you please add brackets next to the highlighted part? It seems to be 2% rather than (3n%/2).

Thanks
GMAT Club Bot
Re: Two friends Michel and Carol got a total bonus of $31500.   [#permalink] 18 Mar 2019, 08:22
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Two friends Michel and Carol got a total bonus of $31500.

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