John made total of $10,000 deposit into two accounts. The : DS Archive Check GMAT Club Decision Tracker for the Latest School Decision Releases http://gmatclub.com/AppTrack  It is currently 19 Jan 2017, 08:40 ### 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 Your Progress 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 #### Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here. ### Request Expert Reply # Events & Promotions ###### Events & Promotions in June Open Detailed Calendar # John made total of$10,000 deposit into two accounts. The

Author Message
Director
Joined: 14 Sep 2005
Posts: 993
Location: South Korea
Followers: 2

Kudos [?]: 155 [0], given: 0

(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 Answer is D VP Joined: 30 Sep 2004 Posts: 1488 Location: Germany Followers: 6 Kudos [?]: 327 [0], given: 0 ### Show Tags 26 Nov 2005, 09:32 D)... 1) 0,1x+0,06(10000-x)=600 suff 2) 0,1x=1,8(0,06(10000-x) suff _________________ 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: 396 Location: Chicago, IL Followers: 3 Kudos [?]: 50 [0], given: 17 ### Show Tags 26 Nov 2005, 10:09 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. _________________ Hard work is the main determinant of success Current Student Joined: 28 Dec 2004 Posts: 3384 Location: New York City Schools: Wharton'11 HBS'12 Followers: 15 Kudos [?]: 282 [0], given: 2 ### Show Tags 26 Nov 2005, 10:17 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 [?]: 102 [0], given: 0

### Show Tags

26 Nov 2005, 11:18
A is insufficient as we do not know for how many years he deposited money in two accounts.

_________________

Whether you think you can or think you can't. You're right! - Henry Ford (1863 - 1947)

Current Student
Joined: 28 Dec 2004
Posts: 3384
Location: New York City
Schools: Wharton'11 HBS'12
Followers: 15

Kudos [?]: 282 [0], given: 2

### Show Tags

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.

good catch...
Director
Joined: 14 Sep 2005
Posts: 993
Location: South Korea
Followers: 2

Kudos [?]: 155 [0], given: 0

### Show Tags

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.

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: 2243
Followers: 16

Kudos [?]: 325 [0], given: 0

### Show Tags

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 [?]: 102 [0], given: 0

### Show Tags

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 [?]: 102 [0], given: 0

### Show Tags

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: 2243
Followers: 16

Kudos [?]: 325 [0], given: 0

### Show Tags

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 [?]: 102 [0], given: 0 ### Show Tags 26 Nov 2005, 20:56 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)

26 Nov 2005, 20:56
Display posts from previous: Sort by