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# A total of \$60,000 was invested for one year. But of this

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Joined: 10 Oct 2008
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A total of \$60,000 was invested for one year. But of this  [#permalink]

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17 Oct 2008, 09:40
A total of \$60,000 was invested for one year. But of this amount earned simple annual interest at the rate of x percent per year, and the rest earned simple annual interest at the rate of y percent per year. If the total interest earned by the \$60,000 for that year was \$4,080, what is the value of x?
(1) x = (3/4) y
(2) The ratio of the amount that earned interest at the rate of x percent per year to the amount that earned interest at the rate of y percent per year was 3 to 2.

A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.

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Updated on: 19 Oct 2008, 00:17
Jcpenny wrote:
A total of \$60,000 was invested for one year. But of this amount earned simple annual interest at the rate of x percent per year, and the rest earned simple annual interest at the rate of y percent per year. If the total interest earned by the \$60,000 for that year was \$4,080, what is the value of x?
(1) x = (3/4) y
(2) The ratio of the amount that earned interest at the rate of x percent per year to the amount that earned interest at the rate of y percent per year was 3 to 2.

A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.

EDIT : Is it C ? ( i mistyped it as B)
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Originally posted by amitdgr on 18 Oct 2008, 23:56.
Last edited by amitdgr on 19 Oct 2008, 00:17, edited 1 time in total.
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Joined: 17 Jun 2008
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19 Oct 2008, 00:03
Jcpenny wrote:
A total of \$60,000 was invested for one year. But of this amount earned simple annual interest at the rate of x percent per year, and the rest earned simple annual interest at the rate of y percent per year. If the total interest earned by the \$60,000 for that year was \$4,080, what is the value of x?
(1) x = (3/4) y
(2) The ratio of the amount that earned interest at the rate of x percent per year to the amount that earned interest at the rate of y percent per year was 3 to 2.

A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.

1) does not suffice since we dont know the principle invested in x % and y % individually !!!

say p = principle invested in x rate then rest=60000-p is at y rate
p(x)+(60000-p)y=408000
y=3/4x does not resolve for p
2 unknowns not solvable

2) here p=3/5 * 60000 =36000

equation becomes :
36000x+24000y=408000
two variables no suffi

1) and 2) solves for x

SUFFI
IMO C

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Re: interest &nbs [#permalink] 19 Oct 2008, 00:03
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# A total of \$60,000 was invested for one year. But of this

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