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For which type of investment, J or K, is the annual rate of

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For which type of investment, J or K, is the annual rate of  [#permalink]

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New post 30 Jul 2012, 01:18
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A
B
C
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E

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95% (01:00) correct 5% (01:11) wrong based on 1215 sessions

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For which type of investment, J or K, is the annual rate of return greater?

(1) Type J returns $115 per $1,000 invested for any one-year period and type K returns $300 per $2,500 invested for anyone-year period.
(2) The annual rate of return for an investment of type K is 12 percent.

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Re: For which type of investment, J or K, is the annual rate of  [#permalink]

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New post 30 Jul 2012, 01:18
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SOLUTION

For which type of investment, J or K, is the annual rate of return greater?

(1) Type J returns $115 per $1,000 invested for any one-year period and type K returns $300 per $2,500 invested for anyone-year period. We can get the rates of both investments and compare them. Sufficient.

(2) The annual rate of return for an investment of type K is 12 percent. We know nothing about investment J. Not sufficient.

Answer: A.
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Re: For which type of investment, J or K, is the annual rate of  [#permalink]

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New post 10 Sep 2015, 22:55
Statement 1 : 115/1000 < 300/2000 , sufficient
Statement 2: of no use , insufficient
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Re: For which type of investment, J or K, is the annual rate of  [#permalink]

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New post 22 Jul 2016, 11:13
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Bunuel wrote:
For which type of investment, J or K, is the annual rate of return greater?

(1) Type J returns $115 per $1,000 invested for any one-year period and type K returns $300 per $2,500 invested for anyone-year period.
(2) The annual rate of return for an investment of type K is 12 percent.


We need to determine which investment, J or K, provides a greater annual rate of return. That is, we are being asked whether J’s annual rate of return is greater than K’s annual rate of return.

Statement One Alone:

Type J returns $115 per $1,000 invested for any one-year period and type K returns $300 per $2,500 invested for any one-year period.

Statement one tells us the following:

Rate of return for investment J = 115/1,000 = 0.115 (since dividing by 1,000 means to move the decimal point three places to the left)

Rate of return for investment K = 300/2,500 = 3/25 = 12/100 = 0.12 (since dividing by 100 means to move the decimal point two places to the left)

We easily see that statement one provides us with the rate of return for both investments J and K. We see that K’s annual rate of return is greater that of J, so statement one is sufficient to answer the question. We can eliminate answer choices B, C, and E.

Statement Two Alone:

The annual rate of return for an investment of type K is 12 percent.

Because we do not have any information about the annual rate of return for investment J, statement two is not sufficient to answer the question.

Answer: A
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Re: For which type of investment, J or K, is the annual rate of  [#permalink]

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