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Exam GMAT Section 2 All Questions

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Exam GMAT Section 2 topic 1 question 2 discussion

Actual exam question from Test Prep's GMAT Section 2
Question #: 2
Topic #: 1
[All GMAT Section 2 Questions]

An investment yields an interest payment of $228 each month. If the simple annual interest rate is 9%, what is the amount of the investment?

  • A. $28,300
  • B. $30,400
  • C. $31,300
  • D. $32,500
  • E. $35,100
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Suggested Answer: B 🗳️
Principal × percent interest × time = interest earned
Principle × (0.09) × 1/12 = $228.
Solve to find the principal (228 × 12)/0.09= $30,400.
The correct answer is B.
by Dheekshitha11 at June 22, 2023, 12:26 p.m.

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Dheekshitha11
1 year, 6 months ago
I don't know any formulas but can it be like the following When interest per month$228 is converted to year it will be $2736 and it is divided by 9% you'll get $30400
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