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

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Manager
Joined: 06 Nov 2008
Posts: 53
A total of \$60,000 was invested for one year. But of this [#permalink]

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11 Dec 2008, 15:54
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

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.
Intern
Joined: 29 Jul 2008
Posts: 28

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11 Dec 2008, 16:29
haichao 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.

We will need two details - principal for x and y rates and interest rates x, y

IMO C.
Re: interest   [#permalink] 11 Dec 2008, 16:29
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# A total of \$60,000 was invested for one year. But of this

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