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.
Apr 2301:30 AM EDT
-02:30 AM EDT
Struggling with GMAT Verbal as a non-native speaker? Harsh improved his score from 595 to 695 in just 45 days—and scored a 99 %ile in Verbal (V88)! Learn how smart strategy, clarity, and guided prep helped him gain 100 points.
Apr 2308:00 PM PDT
-09:00 PM PDT
Video explanations + diagnosis of 10 weakest areas + 150+ short videos + study plan!
Apr 2212:30 AM EDT
-01:30 AM EDT
At one point, she believed GMAT wasn’t for her. After scoring 595, self-doubt crept in and she questioned her potential. But instead of quitting, she made the right strategic changes. The result? A remarkable comeback to 695. Check out how Saakshi did it.
Apr 2610:00 AM EDT
-11:00 AM EDT
The Target Test Prep course represents a quantum leap forward in GMAT preparation, a radical reinterpretation of the way that students should study. Try before you buy with a 5-day, full-access trial of the course for FREE!
Apr 2711:00 AM EDT
-12:00 PM EDT
Prefer video-based learning? The Target Test Prep OnDemand course is a one-of-a-kind video masterclass featuring 400 hours of lecture-style teaching by Scott Woodbury-Stewart, founder of Target Test Prep and one of the most accomplished GMAT instructors
Apr 2808:00 AM PDT
-11:00 AM PDT
Whether you are just beginning your MBA journey or fine-tuning your path to a 700+ score, GMAT Day is designed to give you a competitive edge.
09 Dec 2025, 23:08
Kudos
Bookmarks
B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
63% (01:28) correct
37%
(01:32)
wrong
based on 121
sessions
History
Date
Time
Result
Not Attempted Yet
Ari invested a certain amount of money at a bank offering r% yearly simple interest and the same amount in another bank offering (r + 1)% yearly simple interest. What was the amount of money Ari invested in the second bank?
(1) r = 4
(2) At the end of two years, the money invested in the second bank earned $150 more interest than the money invested in the first bank.
(1) r = 4
(2) At the end of two years, the money invested in the second bank earned $150 more interest than the money invested in the first bank.
10 Dec 2025, 02:59
Kudos
Bookmarks
ExpertsGlobal5
Let the amount invested by Ari be P at simple interest for 2 years.
The rate of interest of Bank 1 = r %
The rate of interest of Bank 2 = (r+1) %
we need to find : P
Statement 1:
(1) r = 4
Without knowing anything about the value P, or Interest arrived for two years, we cannot find P.
Hence, Insufficient
Statement 2:
(2) At the end of two years, the money invested in the second bank earned $150 more interest than the money invested in the first bank.
Interest from bank 1 = 2*P*(r/100)
Interest from bank 2 = 2 * P * ((r+1)/100)
Difference =2 * P * ((r+1)/100) - 2*P*(r/100) = 150
Pr/100 + P/100 - Pr /100 = 75
P = 7500
Hence, Sufficient
Option B
13 Dec 2025, 10:15
Kudos
Bookmarks
ExpertsGlobal5
Explanation:
Let the amount of money Ari invested be P.
The interest rate in the first bank = r
The interest rate in the second bank = r + 1
We need to find whether the value of P can be determined.
Statement (1)
r = 4
Since no information is provided regarding the duration of the investment and the interest earned, it is NOT possible to determine the value of P. Hence, Statement (1) is insufficient.
Statement (2)
Interest earned = (Amount Invested x Duration of Investment x Rate of Interest) / 100
Interest earned from the first bank = P x 2 x r / 100 = 2Pr / 100
Interest earned from the second bank = P x 2 x (r + 1) / 100 = 2P(r + 1) / 100
Since the interest earned from the second bank is $150 more than the interest earned from the first bank:
2P(r + 1) / 100 = 150 + 2Pr / 100
2Pr / 100 + 2P/100 = 150 + 2Pr / 100
Cancelling 2Pr / 100 from both sides, we get:
2P/100 = 150
It is possible to determine the value of P. Hence, Statement (2) is sufficient.
B is the correct answer choice.
