扫描二维码，直接登录
题库 / GMATAdvanced-DS-58
A bank account earned 2% annual interest, compounded daily for as long as the balance was under $1,000, starting when the account was opened. Once the balance reached $1, 000,the account earned 2.5% annual interest, compounded daily until the account was closed. No deposits or withdrawals were made. Was the total amount of interest earned at the 2% rate greater than the total amount earned at the 2.5% rate?
(1)The account earned exactly $25 in interest at the 2.5% rate.
(2)The account was open for exactly three years.
Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
EACH statement ALONE is sufficient.
Statements (1) and (2) TOGETHER are NOT sufficient.
Suppose initial Principal amount=P
Assume, after x days, balance would be 1000
P(1+2%/365)^x=1000......(1)
Assume account was opened for N days, Balance after N days = B
1000(1+2.5%/365)^(N−x)=B.....(2)
We need to figure out Both P and B.
Assume, after x days, balance would be 1000
P(1+2365∗100)x=1000P(1+2365∗100)x=1000......(1)
Assume account was opened for N days
Balance after N days= B
1000(1+2.5365∗100)N−x=B1000(1+2.5365∗100)N−x=B.....(2)