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Bank X pays a simple interest of $80 on a principal of $1,00
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13 Apr 2019, 15:40
13 Apr 2019, 15:40
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Question Stats:
97% (00:56) correct
2% (00:00) wrong based on 37 sessions
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Bank X pays a simple interest of $80 on a principal of $1,000 annually. Bank Y pays a simple interest of $140 on a principal of $1,000 annually. What is the ratio of the interest rates of Bank X to Bank Y ?
(A) 5 : 8
(B) 8 : 5
(C) 14 : 8
(D) 4 : 7
(E) 5 : 7
(A) 5 : 8
(B) 8 : 5
(C) 14 : 8
(D) 4 : 7
(E) 5 : 7
Re: Bank X pays a simple interest of $80 on a principal of $1,00
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13 Apr 2019, 20:16
13 Apr 2019, 20:16
2
Carcass wrote:
Bank X pays a simple interest of $80 on a principal of $1,000 annually. Bank Y pays a simple interest of $140 on a principal of $1,000 annually. What is the ratio of the interest rates of Bank X to Bank Y ?
(A) 5 : 8
(B) 8 : 5
(C) 14 : 8
(D) 4 : 7
(E) 5 : 7
(A) 5 : 8
(B) 8 : 5
(C) 14 : 8
(D) 4 : 7
(E) 5 : 7
Explanation::
As the principal rates are same in both the banks,
Hence,
the ratio of the interest rates is 80 : 140 = 4 : 7.
Re: Bank X pays a simple interest of $80 on a principal of $1,00
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20 Aug 2022, 03:32
20 Aug 2022, 03:32
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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).
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.
