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

 It is currently 29 Aug 2015, 13:59

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

Investment

Author Message
TAGS:
Intern
Joined: 26 Feb 2011
Posts: 42
Followers: 1

Kudos [?]: 37 [0], given: 1

Investment [#permalink]  04 Mar 2011, 10:10
00:00

Difficulty:

(N/A)

Question Stats:

80% (01:29) correct 20% (00:00) wrong based on 5 sessions
Barbata invests $2400 in the National Bank at 5%. How much additional money must she invest at 8% so that the total annual income will be equal to 6% of her entire investment? A/ 1200 B/ 3000 C/ 1000 D/ 3600 E/ 2400 [Reveal] Spoiler: OA Math Forum Moderator Joined: 20 Dec 2010 Posts: 2027 Followers: 142 Kudos [?]: 1210 [0], given: 376 Re: Investment [#permalink] 04 Mar 2011, 10:19 Let the additional invested amount for 8% interest be x; Equation will be; 2400+0.05*2400+x+0.08x = 2400+x+0.06(2400+x) 0.05*2400+0.08x = 0.06x+0.06*2400 0.02x = 2400(0.06-0.05) x = 2400*0.01/0.02 = 1200 Ans: "A" _________________ Manager Joined: 15 Jan 2011 Posts: 64 Followers: 1 Kudos [?]: 16 [0], given: 20 Re: Investment [#permalink] 04 Mar 2011, 19:07 in short the question is asking wht additional amnt shud be added so tht the individual interest rates match up 6% of the total. (x+2400)*6=2400*5+8x. on solving, x=1200. option A _________________ The only place where success comes before work is in the dictionary. If my post made you think, KUDO it. Its easy :D SVP Joined: 16 Nov 2010 Posts: 1676 Location: United States (IN) Concentration: Strategy, Technology Followers: 31 Kudos [?]: 374 [0], given: 36 Re: Investment [#permalink] 04 Mar 2011, 20:53 120 + 8/100 * x = 6/100 * (x+2400) => (8-6)x/100 = 144 - 120 => x = 2400/2 = 1200 So answer is A. _________________ Formula of Life -> Achievement/Potential = k * Happiness (where k is a constant) GMAT Club Premium Membership - big benefits and savings Re: Investment [#permalink] 04 Mar 2011, 20:53 Similar topics Replies Last post Similar Topics: 9 John invested part of his savings into a investment X that earned 6 06 May 2015, 07:38 16 A$500 investment and a $1,500 investment have a combined ye 11 09 Mar 2014, 14:07 4 A$500 investment and a $1,500 investment have a combined 5 06 Oct 2013, 05:27 20 Donald plans to invest x dollars in a savings account that 15 19 Aug 2009, 05:44 1 A small business invests$9,900 in equipment to produce a 4 08 Nov 2008, 20:16
Display posts from previous: Sort by