GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 23 Oct 2019, 06:47

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# If \$6,000 invested for one year at x percent simple annual interest

Author Message
TAGS:

### Hide Tags

Math Expert
Joined: 02 Sep 2009
Posts: 58464
If \$6,000 invested for one year at x percent simple annual interest  [#permalink]

### Show Tags

19 Jan 2018, 10:48
00:00

Difficulty:

15% (low)

Question Stats:

84% (01:36) correct 16% (01:46) wrong based on 66 sessions

### HideShow timer Statistics

If \$6,000 invested for one year at x percent simple annual interest yields \$450, what amount must be invested at y percent simple annual interest for one year to yield the same number of dollars?

(1) If \$4,500 were invested at y percent simple annual interest for one year, the investment would yield \$450.
(2) If \$6,000 were invested at y percent simple annual interest for one year, the investment would yield \$150 more than if it were invested at x percent simple annual interest.

_________________
Manhattan Prep Instructor
Joined: 04 Dec 2015
Posts: 832
GMAT 1: 790 Q51 V49
GRE 1: Q170 V170
Re: If \$6,000 invested for one year at x percent simple annual interest  [#permalink]

### Show Tags

19 Jan 2018, 12:49
Bunuel wrote:
If \$6,000 invested for one year at x percent simple annual interest yields \$450, what amount must be invested at y percent simple annual interest for one year to yield the same number of dollars?

(1) If \$4,500 were invested at y percent simple annual interest for one year, the investment would yield \$450.
(2) If \$6,000 were invested at y percent simple annual interest for one year, the investment would yield \$150 more than if it were invested at x percent simple annual interest.

I'd recommend avoiding doing math on this one. Instead, think about what you could calculate, if you wanted to. Since it's Data Sufficiency, you don't really have to do the calculations.

The question says that \$6000 at x percent interest will give you \$450. That's enough info to calculate x. So, x is a known value. (Don't actually calculate it - that's a waste of time.)

It asks how much you'd need to invest at y percent interest to yield \$450. To determine that, you'd have to know the value of y.

(1) Does this tell us the value of y? It sure does. We could calculate y from this information if we wanted to. Sufficient.

(2) Does this tell us the value of y? It's not totally obvious, so let's write out some equations to check.

\$6000*y/100 is the amount you'd get in interest.

\$6000*x/100 is the amount you'd get if you invested at x% instead. Since we could calculate the value of x if we wanted to, we could also calculate this value! So this is just a number.

It breaks down to "\$6000*y/100 is \$150 greater than some number we could calculate."

There's only one unknown variable there, y. So we could definitely solve for y. Statement 2 is sufficient as well.

_________________

Chelsey Cooley | Manhattan Prep | Seattle and Online

My latest GMAT blog posts | Suggestions for blog articles are always welcome!
Re: If \$6,000 invested for one year at x percent simple annual interest   [#permalink] 19 Jan 2018, 12:49
Display posts from previous: Sort by