GMAT Interest Rate Problems – Part 2: Compound Interest
In “GMAT Interest Rate Problems – Part 1” we looked at simple interest and the way it’s commonly tested on the GMAT. What makes it “simple” is the fact that interest is accrued over one (1) time period, generally one year. If you invest $5,000 and earn an interest rate of 5%, it’s assumed that […]
GMAT Interest Rate Problems – Part 1: Simple Interest
Picture this: You go to the bank and open a savings account. They offer you a CD with an interest rate of 5% (not likely in today’s market, but stick with me here). You deposit $5,000 into that CD. Question: How much money will you have at the end of the year? Pretty simple, right? […]
Solving GMAT Factorials
GMAT problem solving questions that contain the words “How many ways…?” may land you in a situation where you have to deal with factorials. Of course, we have useful strategies for getting certain of these types of questions right without resorting to combinatorics. However, sometimes the fastest and easiest way to answer these questions is […]
GMAT Math Tip – Trapezoids
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For whatever reason, trapezoids tend to freak students out on the GMAT. Maybe it’s because the formula for finding the area of a trapezoid doesn’t “look” like all the other quadrilateral formulas. Maybe it’s because trapezoids have a bizarre looking shape. Whatever the reason, I’d like to make your life a whole lot easier as […]
GMAT Mixture Problems (Algebraic Solution)
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Mixture problems (dry or chemical) are a common type of word problem tested on the GMAT. They all work essentially the same way and are relatively easy once you know what you’re supposed to do. In my video lesson “Problem Solving — Common GMAT Word Problems,” I teach a non-traditional strategy for solving mixture problems […]
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