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A school must raise exactly $2,500 over the next year by investing a
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19 Mar 2017, 07:06
4
00:00
A
B
C
D
E
Difficulty:
55% (hard)
Question Stats:
79% (02:30) correct 21% (02:48) wrong based on 76 sessions
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A school must raise exactly $2,500 over the next year by investing a total of $30,000 in stocks, which yield 9% annual interest, and bonds, which yield 8% annual interest. If the school wants to invest as much as possible in stocks, then how much should the school invest in stocks?
A. $1,000 B. $10,000 C. $20,000 D. $29,000 E. $30,000
Re: A school must raise exactly $2,500 over the next year by investing a
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19 Mar 2017, 07:50
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1
Bunuel wrote:
A school must raise exactly $2,500 over the next year by investing a total of $30,000 in stocks, which yield 9% annual interest, and bonds, which yield 8% annual interest. If the school wants to invest as much as possible in stocks, then how much should the school invest in stocks?
A. $1,000 B. $10,000 C. $20,000 D. $29,000 E. $30,000
let x be the amount to be invested in stocks
9x/100 + (8/100)*(30000-x) = 2500
9x + 240000 - 8x = 250000
x = 10000
Hence option B is correct Hit Kudos if you liked it
Re: A school must raise exactly $2,500 over the next year by investing a
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19 Mar 2017, 07:55
0akshay0 wrote:
Bunuel wrote:
A school must raise exactly $2,500 over the next year by investing a total of $30,000 in stocks, which yield 9% annual interest, and bonds, which yield 8% annual interest. If the school wants to invest as much as possible in stocks, then how much should the school invest in stocks?
A. $1,000 B. $10,000 C. $20,000 D. $29,000 E. $30,000
let x be the amount to be invested in stocks
9x/100 + (8/100)*(30000-x) = 2500
9x + 240000 - 8x = 250000
x = 10000
Hence option B is correct Hit Kudos if you liked it
A school must raise exactly $2,500 over the next year by investing a
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19 Mar 2017, 08:14
1
appu2693 wrote:
0akshay0 wrote:
Bunuel wrote:
A school must raise exactly $2,500 over the next year by investing a total of $30,000 in stocks, which yield 9% annual interest, and bonds, which yield 8% annual interest. If the school wants to invest as much as possible in stocks, then how much should the school invest in stocks?
A. $1,000 B. $10,000 C. $20,000 D. $29,000 E. $30,000
let x be the amount to be invested in stocks
9x/100 + (8/100)*(30000-x) = 2500
9x + 240000 - 8x = 250000
x = 10000
Hence option B is correct Hit Kudos if you liked it
A school must raise exactly $2,500 over the next year by investing a
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14 Nov 2017, 00:51
One of the quickest way to solve this problem is using allegation.
If whole amount is invested in stock, the return: $30000*9% = $2700 If whole amount is invested in bond, the return: $30000*8% = $2400 But the return needed is exactly $2500
See attachment.
Hence the total amount needs to be invested in stock and bond in the ratio 1:2. Therefore amount invested in stock is $30000*(1/3) = $10000.
Attachments
Capture.JPG [ 12.7 KiB | Viewed 333 times ]
gmatclubot
A school must raise exactly $2,500 over the next year by investing a &nbs
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14 Nov 2017, 00:51
close
79% (02:30) correct 
