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What was the total amount John earned on his two investments?

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Bunuel
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What was the total amount John earned on his two investments? [#permalink] New post   10 Oct 2019, 21:40
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E

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73% (00:40) correct 27% (00:32) wrong based on 131 sessions
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What was the total amount John earned on his two investments?

(1) John received an annual interest of 5% on one investment and 13% on the other.
(2) John invested a total of $15,000 on both investments.
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E
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Re: What was the total amount John earned on his two investments? [#permalink] New post   11 Oct 2019, 12:28
To find the total amount earned on investment, we need to know the rate of interest, principal value of investment, time period, and whether the interest is simple interest or compound interest.

(1) This statement gives no information on time period, principal value of investment, and type of interest.
Thus, insufficient.

(2) This statement gives no information on rate of interest, time period and type of interest.
Thus, insufficient.

From (1) and (2) together, we don't know the time period and type of interest.
Thus, insufficient.

Therefore, the correct answer is option E.
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Re: What was the total amount John earned on his two investments? [#permalink] New post   15 Jan 2021, 08:14
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Bunuel wrote:
What was the total amount John earned on his two investments?

(1) John received an annual interest of 5% on one investment and 13% on the other.
(2) John invested a total of $15,000 on both investments.


(1) No don't no the amount of investments.; Insufficient.

(2) Total investment is given but the investment for each interest rate is not given. Insufficient.

Considering Both;

We have rates but we don't have the investment for each interest rate is not given. Insufficient.

The answer is E.
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Re: What was the total amount John earned on his two investments? [#permalink] New post   25 Dec 2022, 10:42
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: What was the total amount John earned on his two investments? [#permalink]
25 Dec 2022, 10:42
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