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

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Manager
Joined: 03 Oct 2008
Posts: 61
A total of \$60,000 was invested for one year. Part of this [#permalink]

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07 Oct 2008, 06:38
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. 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.

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.
Senior Manager
Joined: 28 Feb 2007
Posts: 299

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07 Oct 2008, 21:30
C.

st1) iNSUFF. We don't know about the Parts of amount. Impossible to calculate X or Y. Two variables ( Parts and Y or Y) for 1 equation

st2) Now we know about parts (36000 to 24000) but no relationship between X and Y. Two variables for 1 equation.

St1+2) 36000 (1+x/100) + 24000 (1+ 4x/300)= 4080. SUFF.
SVP
Joined: 17 Jun 2008
Posts: 1529

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07 Oct 2008, 22:00
Re: math ---interest   [#permalink] 07 Oct 2008, 22:00
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# A total of \$60,000 was invested for one year. Part of this

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