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# Alfredo invested a total of $33,000 in 2 accounts, A and B, with SORT BY: Tags: Show Tags Hide Tags Math Expert Joined: 02 Sep 2009 Posts: 93373 Own Kudos [?]: 625648 [43] Given Kudos: 81918 Most Helpful Reply Quant Chat Moderator Joined: 22 Dec 2016 Posts: 3138 Own Kudos [?]: 4449 [12] Given Kudos: 1856 Location: India Concentration: Strategy, Leadership Tutor Joined: 21 Mar 2017 Status:Professional GMAT Trainer Affiliations: GMAT Coach Posts: 418 Own Kudos [?]: 957 [7] Given Kudos: 202 Location: United States (WA) GMAT 1: 760 Q50 V44 GMAT 2: 770 Q51 V44 GMAT 3: 770 Q50 V44 GMAT 4: 770 Q50 V45 (Online) GMAT 5: 780 Q51 V48 General Discussion Manager Joined: 22 Nov 2021 Posts: 60 Own Kudos [?]: 16 [3] Given Kudos: 37 Re: Alfredo invested a total of$33,000 in 2 accounts, A and B, with [#permalink]
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is there a logical way of doing this?
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Alfredo invested a total of $33,000 in 2 accounts, A and B, with [#permalink] 2 Kudos 2 Bookmarks yuvrawj wrote: is there a logical way of doing this? Sort of. Since the interest earned for A is double that of B, but the interest rate for A (5%) is a little less than double that of B (3%), this means A needs a slightly bigger piece of the$33,000 in order for its interest earned to be double.

From here, you can take a number that is slightly more than half of $33,000 to test.$18,000 for A and $15,000 are clean numbers and good places to start. From here, you can quickly see that$18,000*0.05 would yield $900 and$15,000*0.03 would yield $450—perfectly double.$900 + $450 =$1,350
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Re: Alfredo invested a total of $33,000 in 2 accounts, A and B, with [#permalink] yuvrawj wrote: is there a logical way of doing this? Since the interest earned by Account A was twice the interest earned by Account B and their interest rates were 5% and 3% respectively, it is obvious that Alfred had to invest more than 50% in Account A, otherwise Account A would earn 5%/3% = 1.66 or 66% more than Account B. Now we could approximate how many more dollars Alfredo was supposed to deposit to Account A: 2 (times more earned)/1.66 (difference in interest rates)=1.2 or 20% more money went to Account A. Then you could start playing with numbers: more than 50% of total 33k (let's assume 18k) went to Account A, then 15k went to Account B. 18k more than 15k by exactly 20% (3k/15k). All is left is just to calculate interest earned by each account: 18k*0.05=900 and 15k*0.03=450 that gives us$1350 in total.
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Re: Alfredo invested a total of $33,000 in 2 accounts, A and B, with [#permalink] 1 Kudos 2 Bookmarks Let, a & b the principal of the respective of accounts, Given , 5a= 2*3b Then principal ratio, a : b = 6 :5 By weighted average concept, effective % = 6*5+5*3/ 6+5 = 45/11 % Total interest= 45/11% of 33000= 1350 (Ans) Tutor Joined: 21 Mar 2017 Status:Professional GMAT Trainer Affiliations: GMAT Coach Posts: 418 Own Kudos [?]: 957 [0] Given Kudos: 202 Location: United States (WA) GMAT 1: 760 Q50 V44 GMAT 2: 770 Q51 V44 GMAT 3: 770 Q50 V44 GMAT 4: 770 Q50 V45 (Online) GMAT 5: 780 Q51 V48 Alfredo invested a total of$33,000 in 2 accounts, A and B, with [#permalink]

yuvrawj wrote:
is there a logical way of doing this?

­Some of these other solutions involve guessing the numbers 18,000 and 15,000 for A and B, which is an interesting method, but I think a lot of people will have trouble getting to these numbers quickly.

In this case, although it's longer than most questions, I think the algebra is your best bet, and it does benefit you to get very quick with your translations and algebra.

However, for many other mixture questions, I do encourage the Teeter Totter method. (It doesn't work well on this one, because we don't have the weights for the Principals; rather, we have a ratio of the amount of interest.)

Here's a playlist with 4 basic examples going over the process for this Teeter Totter method: https://www.youtube.com/playlist?list=PL2exXfCUscn8Hvafet5-IPH1eNNLSjQBP
­
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Re: Alfredo invested a total of $33,000 in 2 accounts, A and B, with [#permalink] Bunuel this is a GMAT Prep Mock Question. Appeared in Mock 2 Math Expert Joined: 02 Sep 2009 Posts: 93373 Own Kudos [?]: 625648 [0] Given Kudos: 81918 Re: Alfredo invested a total of$33,000 in 2 accounts, A and B, with [#permalink]
Freddy12 wrote:
Bunuel this is a GMAT Prep Mock Question. Appeared in Mock 2

­Thank you. The tag is already there.
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Alfredo invested a total of $33,000 in 2 accounts, A and B, with [#permalink] gmatophobia Can alligation diagram be used in any way to solve this problem ? gmatophobia wrote: Bunuel wrote: ﻿Alfredo invested a total of$33,000 in 2 accounts, A and B, with annual interest rates of 5% and 3%, respectively. For the first year, the interest earned by Account A was twice the interest earned by Account B. What was the total interest earned by the 2 accounts for the first year?

A. $1,290 B.$1,320
C. $1,350 D.$1,430
E. $2,475 • The amount deposited in account A = $$a$$ • The amount deposited in account B = $$b$$ $$a + b = 33000$$ • Interest accumulated in account A = $$a * \frac{5}{100}$$ • Interest accumulated in account B = $$b * \frac{3}{100}$$ Given $$a * \frac{5}{100} = 2*b * \frac{3}{100}$$ $$5a = 6b$$ $$a + b = 33000$$ Multiplying by $$5$$ on both the sides $$5a + 5b = 5*33000$$ $$6b + 5b = 5*33000$$ $$11b = 5*33000$$ $$b = 15000$$ Interest accumulated on account B = $$150000 * \frac{3}{100}$$ $$= 450$$ Interest accumulated on account A = $$2*450$$ $$= 900$$ Total Interest = $$450 + 900 = 1350$$ Option C Posted from my mobile device Manager Joined: 07 Feb 2024 Posts: 78 Own Kudos [?]: 7 [0] Given Kudos: 96 Re: Alfredo invested a total of$33,000 in 2 accounts, A and B, with [#permalink]
Bunuel wrote:
Freddy12 wrote:
Bunuel this is a GMAT Prep Mock Question. Appeared in Mock 2

­Thank you. The tag is already there.

­Where can I find this tag with the mock questions?
Re: Alfredo invested a total of \$33,000 in 2 accounts, A and B, with [#permalink]
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