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# Investment

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

Kudos [?]: 30 [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: 2028 Followers: 138 Kudos [?]: 1165 [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 [?]: 15 [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: 1680 Location: United States (IN) Concentration: Strategy, Technology Followers: 31 Kudos [?]: 352 [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: 14 A$500 investment and a $1,500 investment have a combined ye 10 09 Mar 2014, 14:07 2 A$500 investment and a \$1,500 investment have a combined 5 06 Oct 2013, 05:27
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