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Investment question

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Current Student
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Joined: 13 Jul 2009
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Investment question [#permalink] New post 02 Sep 2009, 05:46
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Question Stats:

100% (03:24) correct 0% (00:00) wrong based on 2 sessions
An amount of money was invested at 10% a year. Five times that amount was invested at 15%. How much was invested at 15% if the total annual return was $1,615?
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Re: Investment question [#permalink] New post 02 Sep 2009, 05:49
x=amount invested 10%
5x=amount invested 15%
interest=x.10%+5x.15%=0,85x
interest=0,85x=1.615 => x=1.900
5x=8.500 that is invested 15%
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Re: Investment question [#permalink] New post 02 Sep 2009, 08:04
Let x and 5x be the amounts invested as 10% and 15% respectively.
Annual return for x = .1x
Annual return for 5x = .75x
Total return = .85x = 1615
x = 1900
So amount invested for 15% = 9500.

Please post OA
Current Student
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Joined: 13 Jul 2009
Posts: 145
Location: Barcelona
Schools: SSE
Followers: 15

Kudos [?]: 300 [0], given: 22

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Re: Investment question [#permalink] New post 02 Sep 2009, 10:51
Aleehsgonji wrote:
Let x and 5x be the amounts invested as 10% and 15% respectively.
Annual return for x = .1x
Annual return for 5x = .75x
Total return = .85x = 1615
x = 1900
So amount invested for 15% = 9500.

Please post OA


Excellent,
you did it nicely ;)

maliyeci did it right too, only the 5 * 1900 was wrong.
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Re: Investment question   [#permalink] 02 Sep 2009, 10:51
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