GMAT Test practice questions, page 58 of 65, with answer review and explanations.
Question 286
An investment yielded an interest payment of $350 each month when the annual interest rate was 9%, what is the amount of the investment that should be invested with an annual interest rate of 8% if we want to gain 15% more each month?
$60,375
$50,400
$41,300
$32,500
$25,100
Question 287
An investment gained an interest payment of $250 each month when the annual interest rate was 8%, how much more should we invest annually if we want to gain 12% more per month with a new annual interest rate of 7.5%?
$9,360
$9,100
$8,250
$7,300
$7,150
Question 288
Mike earns $14 per hour and Phil earns $10.5 per hour. Approximately how much less, as a percentage, does Phil earn than Mike per hour?
25%
32.5%
37%
37.5%
40%
Question 289
A frustrated greengrocer is trying to cell cucumbers at a price of $1.5 per kg. Unfortunately, he has no success. The greengrocer gives a discount of 18% on the original price but then the cucumbers are sold too fast so he raises the price again by 10%. At that final price, how many cucumbers can you buy for $4.5 assuming that there are 12 cucumbers per kg and that only a whole number of kgs are sold?
25
34
40
46
48
Question 290
An air-conditioning unit costs $470. On December there was a discount for Christmas of 16%. Six months later, the holiday season was over so the company raised the price of the air-conditioning by 16%. How much will an air-conditioning unit cost in November?