Check GMAT Club Decision Tracker for the Latest School Decision Releases https://gmatclub.com/AppTrack

 It is currently 23 May 2017, 11:13

### 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

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

### Show Tags

19 Jan 2013, 08:05
1
KUDOS
1
This post was
BOOKMARKED
00:00

Difficulty:

5% (low)

Question Stats:

94% (01:37) correct 6% (00:50) wrong based on 185 sessions

### HideShow timer Statistics

Two years ago, Sam put $1,000 into a savings account. At the end of the first year, his account had accrued$100 in interest bringing his total balance to $1,100. The next year, his account balance increased by 10%. At the end of the two years, by what percent has Sam's account balance increased from his initial deposit of$1,000 ?

A. 19%
B. 20%
C. 21%
D. 22%
E. 25%
[Reveal] Spoiler: OA

_________________

KUDOS is the good manner to help the entire community.

Last edited by Rock750 on 28 Jan 2013, 09:14, edited 1 time in total.
Intern
Joined: 16 Nov 2012
Posts: 41
Location: United States
Concentration: Operations, Social Entrepreneurship
Schools: ISB '15, NUS '16
GMAT Date: 08-27-2013
GPA: 3.46
WE: Project Management (Other)
Followers: 1

Kudos [?]: 29 [3] , given: 54

### Show Tags

29 Nov 2013, 04:06
%-change = change in value / original value

original value here: 1000 $change value: we need to calculate the account after year 2. we take our 1100$ after 1 year and calculate 10 % which is 110 $. we get 1210$ after 2 years. hence there was a change in value of 210 $. plug into formula : 210$ / 1000 $= 21 / 100 =21 % Thus C. Hope it helps. GMAT Club Legend Joined: 09 Sep 2013 Posts: 15405 Followers: 648 Kudos [?]: 204 [0], given: 0 Re: Two years ago, Sam put$1,000 into a savings account. [#permalink]

### Show Tags

26 Mar 2016, 17:08
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________
Re: Two years ago, Sam put $1,000 into a savings account. [#permalink] 26 Mar 2016, 17:08 Similar topics Replies Last post Similar Topics: 1 If Joanie puts$500 in a savings account that earns 10 percent annual 4 13 Sep 2015, 08:47
17 Alan has split his savings equally into two accounts. The 3 06 Apr 2016, 14:26
28 Julie put half of her savings in a savings account that pays 6 13 Apr 2016, 18:15
Exactly one year ago, Ray put his money into a 3 12 Sep 2012, 10:06