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01 Jun 2016, 09:50
Let first call T the part of amount invested with interest of x perct

4080 = (1+ x/100)*T + (1+ y/100)*(60000-T)
So we have 3 unknown ; T, x and y
and 1 equation

(1) x = 3y/4

So we have
3 unknow
2 Independent equations
INSUFF

(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.
It means [(1+ x/100)*T ]/[ (1+ y/100)*(60000-T) ]= 3/2
So we have
3 unknow
2 Independent equations
INSUFF

(1+2)
3eq and 3 unknows
SUFF !
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Re: A total of $60,000 was invested for one year. Part of this [#permalink] ### Show Tags 27 Oct 2016, 09:08 RadhaKrishnan wrote: A total of$60,000 was invested for one year. Part 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 = 3y/4
(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.

Let the amounts be A and B.
Stem:
A + B = 60,000
Ax + By = 4,080

We have 4 variables, so we need 4 different equations.

Statement 1, x = 3y/4, gives us the relation between x and y but not x or y themselves

Statement 2, A=3B/2 , in combination with A + B = 60,000, gives us A and B but not x or y

With statements 1 and 2, we have the 4 equations needed.

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18 Nov 2016, 21:29
A total of $60,000 was invested for one year. Part 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 = 3y/4 (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. Answer: option C Check solution as attached Attachments File comment: www.GMATinsight.com 4.jpg [ 92.04 KiB | Viewed 1328 times ] _________________ Prosper!!! GMATinsight Bhoopendra Singh and Dr.Sushma Jha e-mail: info@GMATinsight.com I Call us : +91-9999687183 / 9891333772 Online One-on-One Skype based classes and Classroom Coaching in South and West Delhi http://www.GMATinsight.com/testimonials.html ACCESS FREE GMAT TESTS HERE:22 ONLINE FREE (FULL LENGTH) GMAT CAT (PRACTICE TESTS) LINK COLLECTION Current Student Joined: 19 Aug 2016 Posts: 146 Location: India GMAT 1: 640 Q47 V31 GPA: 3.82 Re: A total of$60,000 was invested for one year. Part of this  [#permalink]

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26 Apr 2017, 02:57
A total of $60,000 was invested for one year. Part 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 = 3y/4 (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. In most DS questions realising that the statements together or individually would lead to the answer is enough and not solving them to the end would save a lot of precious time as average time taken by PS questions are much more. Here, you can start off with statement B and you can figure out the both the parts in which amount was divided. From there on, suing statement 1 you can either substitute the value of x for or vice versa. That will get you the answer without going through the complex method of solving the problem. If you're still not too sure, you can go ahead and solve the entire problem to be extremely sure. All the best. _________________ Consider giving me Kudos if you find my posts useful, challenging and helpful! Current Student Joined: 25 Feb 2017 Posts: 34 Location: Korea, Republic of Schools: LBS '19 (A) GMAT 1: 720 Q50 V38 GPA: 3.67 Re: A total of$60,000 was invested for one year. Part of this  [#permalink]

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30 Apr 2017, 06:03
A total of $60,000 was invested for one year. Part 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 = 3y/4 (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. My 2 cents. For this question, I think for non-native speaker as I am, it is important to realize that statement 2 is talking about the amount of x and y. Intern Joined: 11 Jun 2017 Posts: 21 Re: A total of$60,000 was invested for one year. Part of this  [#permalink]

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29 Aug 2017, 20:00
The whole trick is you set "a" amount and "60000-a" amount for X% and Y%.
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08 Nov 2018, 23:02
OA:C

Amount invested with $$x$$ % interest rate = $$$z$$ Amount invested with $$y$$ % interest rate =$ $$60000-z$$

$$\frac{x}{100}*z*1+\frac{y}{100}*(60000-z)*1 =4080$$....(1)

We have to find the value of $$x$$

(1) $$x = \frac{{3y}}{4} \quad$$ ; Putting $$\quad y=\frac{4x}{3}$$ in (1) , we get

$$\frac{x}{100}*z*1+\frac{{4x}}{{3*100}}*(60000-z)*1 =4080$$

We still do not know the value of $$z$$, So we cannot find out the value of $$x$$.

Statement (1) alone is insufficient.

(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 $$2$$.

$$\frac{z}{60000-z}=\frac{3}{2}$$

$$z=36000$$ $$$60000-z = 24000$$$

$$\frac{x}{100}*36000*1+\frac{y}{100}*24000*1 =4080$$

We still do not know the value of $$y$$ or relation of $$y$$ with $$x$$, So we cannot find out the value of $$x$$.

Statement (2) alone is insufficient.

Combining (1) and (2), we get

$$\frac{x}{100}*36000*1+\frac{{4x}}{{3*100}}*24000*1 =4080$$

Using this equation, We can get the value of $$x$$.
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Re: A total of $60,000 was invested for one year. Part of this [#permalink] ### Show Tags 09 Nov 2018, 13:30 RadhaKrishnan wrote: A total of$60,000 was invested for one year. Part 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 = 3y/4
(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.

We are given that $60,000 was invested for 1 year. We are also given that part of the investment earned x percent simple annual interest and the rest earned y percent simple annual interest. We are also given that the total interest earned was$4,080. Let’s start by defining a variable.

b = the amount that earned x percent simple interest

Using variable b, we can also say:

60,000 – b = the amount that earned y percent simple annual interest

Since we know that the total interest earned was $4,080, we can create the following equation: b(x/100) + (60,000 – b)(y/100) = 4,080 Note that in the equation above, we express "x percent" as x/100 and "y percent" as y/100 in the same way that we would express, say, 24 percent as 24/100. Statement One Alone: x = 3y/4 Although we have an equation with x and y, we still need a third equation to be able to determine the value of x because our equation from the given information has three variables. Statement one alone is not sufficient to answer the question. Statement Two Alone: 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. From our given information we know that b is the amount that earned interest at the rate of x percent per year and that 60,000 – b is the amount that earned interest at the rate of y percent per year. Thus, we can create the following equation: b/(60,000 – b) = 3/2 Without a third equation, statement two alone is not sufficient to determine the value of x. Statements One and Two Together: From the given information and statements one and two we have the following 3 equations: 1) b(x/100) + (60,000 – b)(y/100) = 4,080 2) x = 3y/4 3) b/(60,000 – b) = 3/2 Since we have 3 independent equations with variables x, y, and b, we are able to determine the value of x. Answer: C _________________ # Scott Woodbury-Stewart Founder and CEO Scott@TargetTestPrep.com 122 Reviews 5-star rated online GMAT quant self study course See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews If you find one of my posts helpful, please take a moment to click on the "Kudos" button. Senior Manager Status: Gathering chakra Joined: 05 Feb 2018 Posts: 440 Re: A total of$60,000 was invested for one year. Part of this  [#permalink]

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25 Apr 2019, 08:36

I mistakenly read (2) as saying "the amount of interest earned at x" rather than "the amount that earned interest." If it was said in the former way (2) would be sufficient on its own, right? You could find the value of each out of 4080, so you could also determine x% and y% from just (2). Would the GMAT do something tricky like this?

4080/5 = 816
So 2448 at x and 1632 at y.
2448/4080 = .6 and 1632/4080 = .4
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26 Apr 2019, 10:18
Thanks, now that I reread your posts and wrote it all out on paper it's very clear.

I wasn't writing things down previously, so in my head I was confusing the ratio of $Amt earned from Amt1 & Amt2 with the ratio of %interest. Regardless of how the might've question put it, both the total amount and the subsequent interest is divided in a ratio of 3:2 (36k to 24k or 2448 to 1632), this is the weight 1 & weight 2. But this says nothing about the ratio of the x & y%. As you succinctly put it we can accrue the same interest from Amt1 & Amt2 in different amounts based on x & y% As always thanks for all your amazing blog posts... fundamentally understanding mixtures/weighted average/statistics concepts instead of just applying formulas has been my Achilles heel... it's much worse than combinatorics and probability. Re: A total of$60,000 was invested for one year. Part of this   [#permalink] 26 Apr 2019, 10:18

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