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05 Mar 2018, 21:39
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Barbara invests $2,400 in the National Bank at 5%. How much additional money must she invest at 8% so that the total annual income will be equal to 6% of her entire investment? (A)$2,400

(B) $3,600 (C)$1,000

(D) $3,000 (E)$1,200
[Reveal] Spoiler: OA

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Re: Barbara invests $2,400 in the National Bank at 5%. How much additiona [#permalink] ### Show Tags 05 Mar 2018, 21:43 Expert's post 1 This post was BOOKMARKED Bunuel wrote: Barbara invests$2,400 in the National Bank at 5%. How much additional money must she invest at 8% so that the total annual income will be equal to 6% of her entire investment?

(A) $2,400 (B)$3,600

(C) $1,000 (D)$3,000

(E) $1,200 4. Percents and Iterest For more check: ALL YOU NEED FOR QUANT ! ! ! Ultimate GMAT Quantitative Megathread Hope it helps. _________________ BSchool Forum Moderator Joined: 26 Feb 2016 Posts: 2256 Location: India GPA: 3.12 Barbara invests$2,400 in the National Bank at 5%. How much additiona [#permalink]

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05 Mar 2018, 23:40
Bunuel wrote:
Barbara invests $2,400 in the National Bank at 5%. How much additional money must she invest at 8% so that the total annual income will be equal to 6% of her entire investment? (A)$2,400

(B) $3,600 (C)$1,000

(D) $3,000 (E)$1,200

If the interest earned is represented as follows
5-----------8
------6------
2-----------1

the investment must be done in the ratio 2:1

Therefore, we would need to invest $1200(Option E) at a rate of 8% so that the total annual income is 6% Alternate approach Let x be the amount invested at 8% $$0.05*2400 + 0.08*x = 0.06(2400 + x)$$ -> $$120 + 0.08x = 144 + 0.06x$$ -> $$0.02x = 24$$ -> $$x = \frac{2400}{2} = 1200$$ _________________ Stay hungry, Stay foolish 2017-2018 MBA Deadlines Class of 2020: Rotman Thread | Schulich Thread Class of 2019: Sauder Thread Director Joined: 21 May 2013 Posts: 612 Re: Barbara invests$2,400 in the National Bank at 5%. How much additiona [#permalink]

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06 Mar 2018, 01:59
Bunuel wrote:
Barbara invests $2,400 in the National Bank at 5%. How much additional money must she invest at 8% so that the total annual income will be equal to 6% of her entire investment? (A)$2,400

(B) $3,600 (C)$1,000

(D) $3,000 (E)$1,200

We need to have the equation as follows.
Therefore, (6/100)*x+144=120+(8/100)*x
Solving for x, x=1200
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Re: Barbara invests $2,400 in the National Bank at 5%. How much additiona [#permalink] ### Show Tags 08 Mar 2018, 11:37 Bunuel wrote: Barbara invests$2,400 in the National Bank at 5%. How much additional money must she invest at 8% so that the total annual income will be equal to 6% of her entire investment?

(A) $2,400 (B)$3,600

(C) $1,000 (D)$3,000

(E) $1,200 We can let x = the amount of money invested at 8%, making her entire investment equal to (2,400 + x). We can create the following equation: 0.05(2,400) + 0.08x = 0.06(2,400 + x) 120 + 0.08x = 144 + 0.06x 0.02x = 24 2x = 2400 x = 1,200 Answer: E _________________ Jeffery Miller Head of GMAT Instruction GMAT Quant Self-Study Course 500+ lessons 3000+ practice problems 800+ HD solutions Re: Barbara invests$2,400 in the National Bank at 5%. How much additiona   [#permalink] 08 Mar 2018, 11:37
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