GMAT Quantitative Reasoning Practice Test 1

Question : 82 of 100

Marks: +1, -0

An investment yields an interest payment of

\$ 68

each week. If the simple annual interest rate is

7.5 \%

, what is the amount of the investment assuming there only 48 weeks are calculated in a year?

Solution:

Principal

\times

percent interest

=

interest earned
Principal

×(0.075) × 1 {/}(12 × 4)=\$ 68

.
Solve to find the principal

(68 × 12 × 4) {/}0.075=\$ 43,520

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