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# A total of $60,000 was invested for one year. Part of this  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Senior Manager Joined: 08 Aug 2005 Posts: 251 Followers: 1 Kudos [?]: 17 [0], given: 0 A total of$60,000 was invested for one year. Part of this [#permalink]  30 Nov 2005, 23:59
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: 1743 Location: Dhaka Followers: 6 Kudos [?]: 72 [0], given: 0 [#permalink] 01 Dec 2005, 02:08 answer is C. 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. so C is the answer. _________________ hey ya...... [#permalink] 01 Dec 2005, 02:08 Similar topics Replies Last post Similar Topics: 35 A total of$60,000 was invested for one year. Part of this 24 28 Jan 2012, 03:05
A total of $60,000 was invested for one year. Part of this 2 07 Oct 2008, 06:38 A total of$60,000 was invested for one year. But of this 2 20 Aug 2007, 06:37