A total of $60,000 was invested for one year. Part of this : Quant Question Archive [LOCKED] Check GMAT Club Decision Tracker for the Latest School Decision Releases http://gmatclub.com/AppTrack  It is currently 23 Jan 2017, 19:40 ### 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 Your Progress 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 #### Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here. ### Request Expert Reply # Events & Promotions ###### Events & Promotions in June Open Detailed Calendar # A total of$60,000 was invested for one year. Part of this

Author Message
Senior Manager
Joined: 08 Aug 2005
Posts: 251
Followers: 1

Kudos [?]: 49 [0], given: 0

A total of $60,000 was invested for one year. Part of this [#permalink] ### Show Tags 30 Nov 2005, 23:59 This topic is locked. If you want to discuss this question please re-post it in the respective forum. A total of$60,000 was invested for one year. Part 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 =3y/4
(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.
SVP
Joined: 28 May 2005
Posts: 1723
Location: Dhaka
Followers: 7

Kudos [?]: 327 [0], given: 0

### Show Tags

01 Dec 2005, 02:08

from statement i) we can formulate the equation.
principal 1* .75y + principal 2*y = 4080
so it is insuff...

from statement 2) we know that amount invested in interest rate x is 3600 and in interest rate y is 2400.

now we we know that total interest earned is 4080
but since we have no idea about the interest rate it is insuff...

now if we combine both the statement we get,

3600*.75y + 2400y = 4080

we can easily calculate the rest from here.

_________________

hey ya......

01 Dec 2005, 02:08
Display posts from previous: Sort by