Find all School-related info fast with the new School-Specific MBA Forum

 It is currently 07 Jul 2015, 08:08

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# A raging alchoholic borrowed a total of $4000 from two loan  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Senior Manager Joined: 30 Aug 2003 Posts: 330 Location: BACARDIVILLE Followers: 1 Kudos [?]: 1 [0], given: 0 A raging alchoholic borrowed a total of$4000 from two loan [#permalink]  12 Jan 2004, 14:26
A raging alchoholic borrowed a total of $4000 from two loan sharks. He paid interest at the rate of 5% p.a. to one of them and 7% p.a. to the other. If the total interest he paid for three years was$696, how much did he borrow at each rate?
_________________

Pls include reasoning along with all answer posts.
****GMAT Loco****
Este examen me conduce jodiendo loco

Senior Manager
Joined: 05 May 2003
Posts: 426
Location: Aus
Followers: 2

Kudos [?]: 5 [0], given: 0

@ 5% - $2400 @ 7% -$1600

x+y = 4000
3(.05x+.07y) = 696

Solve these two equations to get the result.
Manager
Joined: 26 Dec 2003
Posts: 227
Location: India
Followers: 1

Kudos [?]: 2 [0], given: 0

got the same but i used Mixtures & Allegations concept
Similar topics Replies Last post
Similar
Topics:
The total amount that a certain bank loaned in 1998 was $47 1 07 Oct 2008, 05:24 UNEMPLOYMENT as a % of Total Labor Force for Country A From 3 10 Sep 2008, 06:39 Two canoe riders must be selected from each of two groups of 6 27 Mar 2006, 10:34 Two canoe riders must be selected from each of two groups of 2 30 Jan 2006, 15:50 Laura borrowed$2400 from her parents to pay for her college 4 12 Dec 2005, 10:32
Display posts from previous: Sort by