GMAT Quantitative Reasoning Practice Test 8

Question : 16 of 76

Marks: +1, -0

What is the amount of interest paid on an X dollars loan over a 6
months period?
(1)

X = 12,000.

(2) The interest rate is

5%.

Statement (1) BY ITSELF is sufficient to answer the question, but statement (2) by itself is not.
Statement (2) BY ITSELF is sufficient to answer the question, but statement (1) by itself is not.
Statements (1) and (2) TAKEN TOGETHER are sufficient to answer the question, even though NEITHER statement BY ITSELF is sufficient.
Either statement BY ITSELF is sufficient to answer the question.
Statements (1) and (2) TAKEN TOGETHER are NOT sufficient to answer the question, requiring more data pertaining to the problem.

Validate

Solution:

Statement (1) gives out the amount of money loaned.
Statement (2) gives the interest without mentioning during what time is the interest 5%.
Both statements are insufficient since we cannot determine what the interest on

\$12,000

is during a 6 months period. The interest could be monthly or annually or anything else.

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