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  • Typical Day of a UCLA MBA Student - Recording of Webinar with UCLA Adcom and Student

     December 14, 2018

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    Carolyn and Brett - nicely explained what is the typical day of a UCLA student. I am posting below recording of the webinar for those who could't attend this session.
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A sum of money is invested at simple interest, partly at 4% and remain

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A sum of money is invested at simple interest, partly at 4% and remain  [#permalink]

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New post 02 Jul 2017, 01:31
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A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

81% (02:52) correct 19% (03:16) wrong based on 49 sessions

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A sum of money is invested at simple interest, partly at 4% and remaining at 7% annual rates of interest. After two years, the total interest obtained was $2100. If the total investment is $18000, what was the sum of money invested at 4% annual rate of interest?

(A) $5500
(B) $6000
(C) $7000
(D) $10500
(E) $11000

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Re: A sum of money is invested at simple interest, partly at 4% and remain  [#permalink]

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New post 02 Jul 2017, 01:43
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Bunuel wrote:
A sum of money is invested at simple interest, partly at 4% and remaining at 7% annual rates of interest. After two years, the total interest obtained was $2100. If the total investment is $18000, what was the sum of money invested at 4% annual rate of interest?

(A) $5500
(B) $6000
(C) $7000
(D) $10500
(E) $11000


Total investment \(= $18000\)

Let the money invested with 4% interest \(= x\)

Money invested with 7% interest \(= 18000 - x\)

\(2100 = \frac{4*x*2}{100} + \frac{(18000-x)*7*2}{100}\)

\(\frac{8x + 252000 - 14x}{100} = 2100\)

\(-6x + 252000 = 210000\)

\(6x = 252000 - 210000 = 42000\)

\(x = \frac{42000}{6} = $7000\)

Answer (C)...
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Re: A sum of money is invested at simple interest, partly at 4% and remain  [#permalink]

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New post 02 Jul 2017, 06:28
let sum of money invested at 4% be x and at 7% be 18000-x
(4*x*2)/100+((18000-x)*2*7)/100=2100
8x-14x+14*18000=210000
6x=42000
x=7000
hence C
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Re: A sum of money is invested at simple interest, partly at 4% and remain  [#permalink]

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New post 03 Jul 2017, 10:11
money invested at 4% is x
money invested at 7% is 18,000 - x

Therefore after two years, interest is:

x*4*2/100 + (18,000- x)*7*2/100 = 2100

8x + 252000-14x = 210000
6x = 42000
x is 7000 or Option C
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Re: A sum of money is invested at simple interest, partly at 4% and remain  [#permalink]

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New post 30 Jul 2018, 03:34
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Re: A sum of money is invested at simple interest, partly at 4% and remain &nbs [#permalink] 30 Jul 2018, 03:34
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