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

It is currently 30 Sep 2014, 20:12

Close

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.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Last year Luis invested x dollars for one year, half at 8

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Manager
Manager
avatar
Joined: 30 Mar 2007
Posts: 183
Followers: 1

Kudos [?]: 5 [0], given: 0

Last year Luis invested x dollars for one year, half at 8 [#permalink] New post 20 May 2007, 01:38
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions
1. Last year Luis invested x dollars for one year, half at 8 percent simple annual interest and the other half at 12 percent simple annual interest. Now he wants to reinvest the x dollars for one year in the same two types of investments, but the lower rate has decreased. If the higher rate is unchanged, what fraction of the x dollars must he reinvest at the 12 percent rate so that the total interest earned from the x dollars will be the
same for both years ?

(1) The lower rate is now 6 percent.
(2) The total amount of interest earned from the two investments last year was $3,000.

2. In year X a total of 355 billion dollars was spent for health care in the US. 30% of which was spent by private health insurance companies. Was the amount spent for health care by the deferal government's medicare program less than 60 billion dollars?
(1) In year X medicare spent more than 1/2, but less than 2/3, of the amount spent by the private health care insurance companies for health care.
(2) In year X medicare spent 50 billion dollars less for health care than the amount spent by private health care insurance companies.
Director
Director
User avatar
Joined: 14 Jan 2007
Posts: 782
Followers: 2

Kudos [?]: 52 [0], given: 0

 [#permalink] New post 20 May 2007, 02:41
QUESTION1-
Answer is 'A'.

stmt1-
equation : 1.08*x/2 + 1.12*x/2 = 1.06*(x-x1) + 1.12*x1
it can be solved for x1/x
so SUFF

stmt2:
unless we know about the lower interest rate, we can't know about the x1/x
so INSUFF
  [#permalink] 20 May 2007, 02:41
    Similar topics Author Replies Last post
Similar
Topics:
7 Experts publish their posts in the topic On May 1 of last year, Jasmin invested x dollars in a new enigma123 10 05 Jun 2012, 04:03
1 Experts publish their posts in the topic Last year Luis invested x dollars for one year, half at 8 cipher 5 03 Aug 2009, 00:00
Last year Luis invested x dollars for one year, half at 8 puma 3 18 Apr 2008, 07:58
Last year Luis invested X dollars for one year, half at 8 freetheking 4 04 Aug 2006, 22:34
If x dollars is invested at 10 percent for one year and y vprabhala 4 18 Jan 2005, 17:45
Display posts from previous: Sort by

Last year Luis invested x dollars for one year, half at 8

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.