It is currently 21 Sep 2017, 08:55

STARTING SOON:

Live Chat with Amy Mitson, Sr. Associate Director of Admissions at Tuck Dartmouth


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.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

A raging alchoholic borrowed a total of $4000 from two loan

  post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Senior Manager
Senior Manager
User avatar
Joined: 30 Aug 2003
Posts: 329

Kudos [?]: 25 [0], given: 0

Location: BACARDIVILLE
A raging alchoholic borrowed a total of $4000 from two loan [#permalink]

Show Tags

New post 12 Jan 2004, 15:26
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

A raging alchoholic borrowed a total of $4000 from two loan sharks. He paid interest at the rate of 5% p.a. to one of them and 7% p.a. to the other. If the total interest he paid for three years was $696, how much did he borrow at each rate?
_________________

Pls include reasoning along with all answer posts.
****GMAT Loco****
Este examen me conduce jodiendo loco

Kudos [?]: 25 [0], given: 0

Senior Manager
Senior Manager
User avatar
Joined: 05 May 2003
Posts: 424

Kudos [?]: 11 [0], given: 0

Location: Aus
 [#permalink]

Show Tags

New post 12 Jan 2004, 15:48
@ 5% - $2400
@ 7% - $1600

x+y = 4000
3(.05x+.07y) = 696

Solve these two equations to get the result.

Kudos [?]: 11 [0], given: 0

Manager
Manager
User avatar
Joined: 26 Dec 2003
Posts: 227

Kudos [?]: 3 [0], given: 0

Location: India
 [#permalink]

Show Tags

New post 12 Jan 2004, 19:59
got the same but i used Mixtures & Allegations concept

Kudos [?]: 3 [0], given: 0

  [#permalink] 12 Jan 2004, 19:59
Display posts from previous: Sort by

A raging alchoholic borrowed a total of $4000 from two loan

  post reply Question banks Downloads My Bookmarks Reviews Important topics  


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

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

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®.