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04 Mar 2011, 11:10
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A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
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Question Stats:
77% (02:03) correct
23%
(02:38)
wrong
based on 646
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Barbata invests $2400 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/ 1200
B/ 3000
C/ 1000
D/ 3600
E/ 2400
A/ 1200
B/ 3000
C/ 1000
D/ 3600
E/ 2400
04 Mar 2011, 20:07
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in short the question is asking wht additional amnt shud be added so tht the individual interest rates match up 6% of the total.
(x+2400)*6=2400*5+8x.
on solving, x=1200.
option A
(x+2400)*6=2400*5+8x.
on solving, x=1200.
option A
General Discussion
04 Mar 2011, 11:19
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Let the additional invested amount for 8% interest be x;
Equation will be;
2400+0.05*2400+x+0.08x = 2400+x+0.06(2400+x)
0.05*2400+0.08x = 0.06x+0.06*2400
0.02x = 2400(0.06-0.05)
x = 2400*0.01/0.02 = 1200
Ans: "A"
Equation will be;
2400+0.05*2400+x+0.08x = 2400+x+0.06(2400+x)
0.05*2400+0.08x = 0.06x+0.06*2400
0.02x = 2400(0.06-0.05)
x = 2400*0.01/0.02 = 1200
Ans: "A"
