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A company is planning to look
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16 Apr 2021, 07:05
16 Apr 2021, 07:05
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Question Stats:
88% (01:13) correct
11% (03:03) wrong based on 18 sessions
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A company is planning to look for some simple interest loan between $120,000 and $150,000 at an annual interest rate of 6% for 3 years. What will be the range of the interest I of this loan?
A. \($21,800 < I < $27,000\)
B. \($21,600 < I < $27,000\)
C. \($21,800 < I < $29,000\)
D. \($22,800 < I < $29,200\)
E. \($23,600 < I < $31,000\)
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
A. \($21,800 < I < $27,000\)
B. \($21,600 < I < $27,000\)
C. \($21,800 < I < $29,000\)
D. \($22,800 < I < $29,200\)
E. \($23,600 < I < $31,000\)
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
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Re: A company is planning to look
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18 Apr 2021, 07:35
18 Apr 2021, 07:35
2
Carcass wrote:
A company is planning to look for some simple interest loan between $120,000 and $150,000 at an annual interest rate of 6% for 3 years. What will be the range of the interest I of this loan?
A. \($21,800 < I < $27,000\)
B. \($21,600 < I < $27,000\)
C. \($21,800 < I < $29,000\)
D. \($22,800 < I < $29,200\)
E. \($23,600 < I < $31,000\)
A. \($21,800 < I < $27,000\)
B. \($21,600 < I < $27,000\)
C. \($21,800 < I < $29,000\)
D. \($22,800 < I < $29,200\)
E. \($23,600 < I < $31,000\)
\(S.I = \frac{PRT}{100}\)
\(\frac{(120000)(6)(3)}{100} < I < \frac{(150000)(6)(3)}{100}\)
\((1200)(6)(3) < I < (1500)(6)(3)\)
\(21600 < I < 27000\)
Hence, option B
Re: A company is planning to look
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01 May 2024, 12:21
01 May 2024, 12:21
Hello from the GRE Prep Club BumpBot!
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Thanks to another GRE Prep 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).
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