GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 12 Dec 2019, 12:44

### 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

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

### Show Tags

14 Mar 2019, 05:06
2
00:00

Difficulty:

55% (hard)

Question Stats:

56% (02:23) correct 44% (03:22) wrong based on 27 sessions

### HideShow timer Statistics

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 NUS School Moderator Joined: 18 Jul 2018 Posts: 1026 Location: India Concentration: Finance, Marketing WE: Engineering (Energy and Utilities) Re: Two friends Michel and Carol got a total bonus of$31500.  [#permalink]

### Show Tags

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

Intern
Joined: 11 Dec 2016
Posts: 47
Re: Two friends Michel and Carol got a total bonus of $31500. [#permalink] ### Show Tags 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