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An amount of money was invested at 10% a year. Five times that amount

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An amount of money was invested at 10% a year. Five times that amount [#permalink]

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New post 02 Sep 2009, 06:46
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An amount of money was invested at 10% a year. Five times that amount was invested at 15%. How much was invested at 15% if the total annual return was $1,615?
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Re: An amount of money was invested at 10% a year. Five times that amount [#permalink]

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New post 02 Sep 2009, 06:49
x=amount invested 10%
5x=amount invested 15%
interest=x.10%+5x.15%=0,85x
interest=0,85x=1.615 => x=1.900
5x=8.500 that is invested 15%

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Re: An amount of money was invested at 10% a year. Five times that amount [#permalink]

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New post 02 Sep 2009, 09:04
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Let x and 5x be the amounts invested as 10% and 15% respectively.
Annual return for x = .1x
Annual return for 5x = .75x
Total return = .85x = 1615
x = 1900
So amount invested for 15% = 9500.

Please post OA

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Re: An amount of money was invested at 10% a year. Five times that amount [#permalink]

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New post 02 Sep 2009, 11:51
Aleehsgonji wrote:
Let x and 5x be the amounts invested as 10% and 15% respectively.
Annual return for x = .1x
Annual return for 5x = .75x
Total return = .85x = 1615
x = 1900
So amount invested for 15% = 9500.

Please post OA


Excellent,
you did it nicely ;)

maliyeci did it right too, only the 5 * 1900 was wrong.
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Re: An amount of money was invested at 10% a year. Five times that amount [#permalink]

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Re: An amount of money was invested at 10% a year. Five times that amount [#permalink]

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New post 19 Feb 2015, 14:09
Hi All,

Since the posters in this thread are probably long gone (the posts are over 5 years old), the following advice isn't really for them.

This type of prompt involves some standard formula use and calculations - you'll do similar work on Test Day again and again. However, since the 5 answer choices were not included, we're essentially STUCK using that approach. Based on the wording of the prompt, the answers would have been numbers, which means that we could have TESTed THE ANSWERS and quite possibly answered the question in LESS time and with LESS work. During your practice, to maximize your overall abilities, you have to be comfortable using more than one approach. Take advantage of ALL of the information that you've been given (including what's in the answer choices) and you'd be amazed how "gettable" most GMAT questions actually are.

GMAT assassins aren't born, they're made,
Rich
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Re: An amount of money was invested at 10% a year. Five times that amount   [#permalink] 19 Feb 2015, 14:09
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