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26 Jun 2016, 18:29
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
71% (01:00) correct
29%
(01:03)
wrong
based on 143
sessions
History
Date
Time
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Not Attempted Yet
If Tom invest $x April at a constant monthly interest rate of y percent, what is the percent increase from April to October?
1) x=10,000
2) y=2
*An answer will be posted in 2 days.
1) x=10,000
2) y=2
*An answer will be posted in 2 days.
paidlukkha
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Concentration: Finance, International Business
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26 Jun 2016, 18:41
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To know the percent increase, all we need to know is percent (annually, quarterly or monthly, etc)
S1 - x=10,000
NS
depending upon y, answer will change
it can be 10% or 20% or 90% increase
S2 - y=2
just what we pre think during our question analysis
no matter what amount it is, if y=2, percentage change from april to oct - we will have a definite answer (for one unknown variable).
Keep in mind, question stem does state, y is monthly
(24% interest, nice)
imo B
S1 - x=10,000
NS
depending upon y, answer will change
it can be 10% or 20% or 90% increase
S2 - y=2
just what we pre think during our question analysis
no matter what amount it is, if y=2, percentage change from april to oct - we will have a definite answer (for one unknown variable).
Keep in mind, question stem does state, y is monthly
(24% interest, nice) imo B
28 Jun 2016, 18:31
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If we modify the original condition and the question, we get x--> x(1+y%)^6. Hence, for the percent increase, we only have to know the value of y. Thus, the correct answer is B.
- Forget conventional ways of solving math questions. In DS, Variable approach is the easiest and quickest way to find the answer without actually solving the problem. Remember equal number of variables and independent equations ensures a solution.
- Forget conventional ways of solving math questions. In DS, Variable approach is the easiest and quickest way to find the answer without actually solving the problem. Remember equal number of variables and independent equations ensures a solution.
