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11 Jan 2024, 10:45
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x: $2,500
y: $2,000
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
69% (02:25) correct
31%
(02:57)
wrong
based on 1060
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Not Attempted Yet
Data Insights (DI) Butler 2023-24 [Question #194, Date: Jan-11-2024] [Click here for Details]
Jack invested an amount \(P\) at 6% annual rate of simple interest. Natila invested an amount \(2P\) at 4% annual rate of simple interest. Jack stayed invested for a time period of \(5T\) years while Natila stayed invested for a time period of \(3T\) years. The total interest earned by Jack on his investment was $x and the total interest earned by Natila on her investment was $y.
In the table, select a value for x and a corresponding value for y. Make only two selections, one in each column.
| x | y | Value |
| $2,000 | ||
| $2,500 | ||
| $3,000 | ||
| $3,500 | ||
| $4,000 |
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Official Answer
x: $2,500
y: $2,000
21 Jan 2024, 10:50
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AbhinavShah14
Jack invested an amount \(P\) at 6% annual rate of simple interest. Natila invested an amount \(2P\) at 4% annual rate of simple interest. Jack stayed invested for a time period of \(5T\) years while Natila stayed invested for a time period of \(3T\) years. The total interest earned by Jack on his investment was $x and the total interest earned by Natila on her investment was $y.
Natila: Principal = 2P; Rate = 4%; Time =3T…….Interest = y = \(\frac{2P*4*3T}{100}\)
Jack: Principal = P; Rate = 6%; Time =5T…….Interest = x = \(\frac{P*6*5T}{100}\)
Thus \(\frac{y}{x}=\frac{2P*4*3T}{P*6*5T}=\frac{4}{5}\) or x=1.25y
Thus x>y.
Find values that fit in as per this ratio. y=2000, x=1.25*2000=2500
General Discussion
21 Jan 2024, 08:58
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Can Anyone solve this question?
