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# John made total of $10,000 deposit into two accounts. The  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Director Joined: 14 Sep 2005 Posts: 993 Location: South Korea Followers: 2 Kudos [?]: 50 [0], given: 0 John made total of$10,000 deposit into two accounts. The [#permalink]  26 Nov 2005, 06:28
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11. John made total of $10,000 deposit into two accounts. The interest rate of one account is 10% per year, and the interest rate of the other account is 6% a year. What is the amount of money depositted into a account with 10% interest rate? (1) The total interest of the two accounts is$600.
(2) The interest from the account with 10% interest rate is 1.8 times
as much as the interest from the account with 6% interest rate.
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Auge um Auge, Zahn um Zahn !

Last edited by gamjatang on 30 Nov 2005, 23:57, edited 1 time in total.
Director
Joined: 24 Oct 2005
Posts: 660
Location: London
Followers: 1

Kudos [?]: 9 [0], given: 0

A + B = 10000
B = 10000 - A

1--> 10% of A + 6%of B = 600
B = 10000 - A
So we can get A
Sufficient

2. Insufficient info as we dont know the total interest.
Manager
Joined: 11 Jul 2005
Posts: 86
Location: New York
Followers: 1

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

Re: DS - (AG) Deposits [#permalink]  26 Nov 2005, 09:29
gamjatang wrote:
11. John made total of $10,000 deposit into two accounts. The interest rate of one account is 10% per year, and the interest rate of the other account is 6% a year. What is the amount of money depositted into a account with 10% interest rate? (1) The total interest of the two accounts is$600.
(2) The interest from the account with 10% interest rate is 1.8 times
as much as the interest from the account with 6% interest rate.

A suff as remgeo explained

B-- suff

10/100 *x=1.8(6/100*(10000-x)

x cna be calculated.Hence suff

VP
Joined: 30 Sep 2004
Posts: 1488
Location: Germany
Followers: 4

Kudos [?]: 105 [0], given: 0

D)...

1) 0,1x+0,06(10000-x)=600 suff

2) 0,1x=1,8(0,06(10000-x) suff
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If your mind can conceive it and your heart can believe it, have faith that you can achieve it.

Senior Manager
Joined: 03 Nov 2005
Posts: 397
Location: Chicago, IL
Followers: 3

Kudos [?]: 29 [0], given: 17

x+y=10,000 is given from the stem.
(1) .1x+.06y=600. Two equations, two unknowns. Sufficient
(2).1x/.06 y=1.8 Two equations, two unknowns.Sufficient.

D.
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Hard work is the main determinant of success

Current Student
Joined: 28 Dec 2004
Posts: 3387
Location: New York City
Schools: Wharton'11 HBS'12
Followers: 14

Kudos [?]: 187 [0], given: 2

what if he put $0 in the 10% account? isnt that a possibility? if we say he has to put some money into the 10% account then ans is D otherwise I would say C... VP Joined: 22 Aug 2005 Posts: 1120 Location: CA Followers: 1 Kudos [?]: 49 [0], given: 0 [#permalink] 26 Nov 2005, 11:18 A is insufficient as we do not know for how many years he deposited money in two accounts. gamjatang, please provide OA for your questions. thanks. _________________ Whether you think you can or think you can't. You're right! - Henry Ford (1863 - 1947) Current Student Joined: 28 Dec 2004 Posts: 3387 Location: New York City Schools: Wharton'11 HBS'12 Followers: 14 Kudos [?]: 187 [0], given: 2 [#permalink] 26 Nov 2005, 11:32 duttsit wrote: A is insufficient as we do not know for how many years he deposited money in two accounts. gamjatang, please provide OA for your questions. thanks. good catch... Director Joined: 14 Sep 2005 Posts: 993 Location: South Korea Followers: 2 Kudos [?]: 50 [0], given: 0 [#permalink] 26 Nov 2005, 17:20 duttsit wrote: A is insufficient as we do not know for how many years he deposited money in two accounts. gamjatang, please provide OA for your questions. thanks. Duttsit// Exactly what I thought. I thought it should be E since we do not know how many years. However, the OA is D. I guess the OA is wrong. _________________ Auge um Auge, Zahn um Zahn ! SVP Joined: 03 Jan 2005 Posts: 2246 Followers: 13 Kudos [?]: 226 [0], given: 0 [#permalink] 26 Nov 2005, 20:29 This is what I thought when I first read the question too but then I realized this question is talking about yearly interest. I think the interpretation of this question is that you only calculate interest when the year was over, because it did not talked about monthly interest. In other words, when the interest is$600, you know it would be at least one year since you've got interest. However it won't be two years or more because you would get more interest than $600 no matter how you allocate your money. In other words the number of years is known. _________________ Keep on asking, and it will be given you; keep on seeking, and you will find; keep on knocking, and it will be opened to you. VP Joined: 22 Aug 2005 Posts: 1120 Location: CA Followers: 1 Kudos [?]: 49 [0], given: 0 [#permalink] 26 Nov 2005, 20:34 HongHu wrote: This is what I thought when I first read the question too but then I realized this question is talking about yearly interest. I think the interpretation of this question is that you only calculate interest when the year was over, because it did not talked about monthly interest. In other words, when the interest is$600, you know it would be at least one year since you've got interest. However it won't be two years or more because you would get more interest than $600 no matter how you allocate your money. In other words the number of years is known. Are you saying the ans for S1 will be 0 as 600 will be interest rate if whole 10,000 was deposited into 6% interest rate account? _________________ Whether you think you can or think you can't. You're right! - Henry Ford (1863 - 1947) VP Joined: 22 Aug 2005 Posts: 1120 Location: CA Followers: 1 Kudos [?]: 49 [0], given: 0 [#permalink] 26 Nov 2005, 20:41 HongHu wrote: Yes. Thanks HongHu, I would have never figured out this wisdom _________________ Whether you think you can or think you can't. You're right! - Henry Ford (1863 - 1947) SVP Joined: 03 Jan 2005 Posts: 2246 Followers: 13 Kudos [?]: 226 [0], given: 0 [#permalink] 26 Nov 2005, 20:48 Hmmm that use of "wisdom" sounds rather cynical. But yes I do think that$600 figure is carefully chosen for that question.
_________________

Keep on asking, and it will be given you;
keep on seeking, and you will find;
keep on knocking, and it will be opened to you.

VP
Joined: 22 Aug 2005
Posts: 1120
Location: CA
Followers: 1

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

HongHu wrote:
Hmmm that use of "wisdom" sounds rather cynical. But yes I do think that $600 figure is carefully chosen for that question. Agree... well i should have called "trap" _________________ Whether you think you can or think you can't. You're right! - Henry Ford (1863 - 1947) [#permalink] 26 Nov 2005, 20:56 Similar topics Replies Last post Similar Topics: José deposited a total of$ 10,000 into two interest-bearing accounts 7 29 Dec 2014, 04:28
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