# Practice GMAT Problem Solving Question

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Peter's bank account has p dollars. John's bank account has 5 times what Peter's bank account has and 1/3 what Fred's bank account has. How much more is in Fred's bank account than is in Peter's bank account, in terms of p?

Correct Answer:

**B**- Assign letters to each man's bank account:

Peter = p.

John = j.

Fred = f. - Now translate the sentences from the question into equations:

j = 5p "John's bank account has 5 times what Peter's bank account has"

j = (1/3)f "John's bank account has ... 1/3 what Fred's bank account has" - Combine the two equations to yield:

5p = j = (1/3)f

5p = (1/3)f. - Divide both sides by 1/3 (the same as multiplying by 3) to yield:

15p = f

Translated back into words, this means Fred has 15p dollars in his account. - We are interested in the difference between the amount Fred has (15p) and the amount Peter has (p). Subtract p from 15p to yield 14p.

Fred - Peter =

15p - p = 14p

Thus, B is correct.

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