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An amount of $10,000 is deposited in a bank
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08 Apr 2025, 10:32
08 Apr 2025, 10:32
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Question Stats:
91% (01:26) correct
8% (01:17) wrong based on 12 sessions
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An amount of $10,000 is deposited in a bank
Quantity A |
Quantity B |
Amount earned at a rate of $\(12 \%\)$ per annum compounded half yearly for 3 years |
Amount earned at a rate of $\(10 \%\)$ per annum, compounded annually for 4 years |
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Re: An amount of $10,000 is deposited in a bank
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12 Apr 2025, 04:30
12 Apr 2025, 04:30
Expert Reply
Column A: $\(10,000\left(1+\frac{12 / 2}{100}\right)^6=10,000(1.06)^6\)$
Column B: $\(10,000\left(1+\frac{10}{100}\right)^4=10,000(1.1)^4=10,000(1.461)\)$
Hence, Column B $\(>\)$ Column A.
Thus, the correct answer is $\(B\)$.
Column B: $\(10,000\left(1+\frac{10}{100}\right)^4=10,000(1.1)^4=10,000(1.461)\)$
Hence, Column B $\(>\)$ Column A.
Thus, the correct answer is $\(B\)$.
gmatclubot
Re: An amount of $10,000 is deposited in a bank [#permalink]
12 Apr 2025, 04:30
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