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# A total of $60,000 was invested for one year. But of this  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Director Joined: 17 Oct 2005 Posts: 940 Followers: 1 Kudos [?]: 62 [0], given: 0 A total of$60,000 was invested for one year. But of this [#permalink]  06 Feb 2006, 21:28
A total of $60,000 was invested for one year. But of this amount earned simple annual interest at the rate of x percent per year, and the rest earned simple annual interest at the rate of y percent per year. If the total interest earned by the$60,000 for that year was $4,080, what is the value of x? (1) x = (3/4) y (2) The ratio of the amount that earned interest at the rate of x percent per year to the amount that earned interest at the rate of y percent per year was 3 to 2. VP Joined: 21 Sep 2003 Posts: 1066 Location: USA Followers: 3 Kudos [?]: 39 [0], given: 0 [#permalink] 06 Feb 2006, 22:47 Is it C? Let P the principle invested with rate x for a time t (fraction of 12 months) then 60000-P will be invested with y for time 1-t 4080 = P* 1 * x/100 + (60000-P)*1*y/100 ---- (1) 1) x = 3/4y ----(2) Don't know P cannot solve the eqn. INSUFF. 2) P*1*x/(60000-P)*1*y = 3/2 . ----(3) Don't know x & y. Combining From (2)&(3), we can obtain P. From (2), P & (1) we can solve for x. _________________ "To dream anything that you want to dream, that is the beauty of the human mind. To do anything that you want to do, that is the strength of the human will. To trust yourself, to test your limits, that is the courage to succeed." - Bernard Edmonds Senior Manager Joined: 11 Nov 2005 Posts: 332 Location: London Followers: 1 Kudos [?]: 8 [0], given: 0 [#permalink] 06 Feb 2006, 23:55 C. By combining the stat 1 and 2 one can answer the question hence C. [#permalink] 06 Feb 2006, 23:55 Similar topics Replies Last post Similar Topics: A total of$60,000 was invested for one year. But of this 1 11 Dec 2008, 15:54
A total of $60,000 was invested for one year. But of this 2 17 Oct 2008, 08:40 A total of$60,000 was invested for one year. But of this 2 20 Aug 2007, 06:37
2 A total of $60,000 was invested for one year. Part of this 18 05 Aug 2006, 07:09 A total of$60,000 was invested for one year. Part of this 1 30 Nov 2005, 23:59
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