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# John made total of $10,000 deposit into two accounts. The  post reply Question banks Downloads My Bookmarks Reviews Important topics Author Message Director Joined: 14 Sep 2005 Posts: 985 Location: South Korea John made total of$10,000 deposit into two accounts. The [#permalink]

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26 Nov 2005, 07:28
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11. John made total of $10,000 deposit into two accounts. The interest rate of one account is 10% per year, and the interest rate of the other account is 6% a year. What is the amount of money depositted into a account with 10% interest rate? (1) The total interest of the two accounts is$600.
(2) The interest from the account with 10% interest rate is 1.8 times
as much as the interest from the account with 6% interest rate.
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Last edited by gamjatang on 01 Dec 2005, 00:57, edited 1 time in total.
Director
Joined: 24 Oct 2005
Posts: 659
Location: London

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26 Nov 2005, 10:18
A + B = 10000
B = 10000 - A

1--> 10% of A + 6%of B = 600
B = 10000 - A
So we can get A
Sufficient

2. Insufficient info as we dont know the total interest.
Manager
Joined: 11 Jul 2005
Posts: 86
Location: New York
Re: DS - (AG) Deposits [#permalink]

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26 Nov 2005, 10:29
gamjatang wrote:
11. John made total of $10,000 deposit into two accounts. The interest rate of one account is 10% per year, and the interest rate of the other account is 6% a year. What is the amount of money depositted into a account with 10% interest rate? (1) The total interest of the two accounts is$600.
(2) The interest from the account with 10% interest rate is 1.8 times
as much as the interest from the account with 6% interest rate.

A suff as remgeo explained

B-- suff

10/100 *x=1.8(6/100*(10000-x)

x cna be calculated.Hence suff

VP
Joined: 30 Sep 2004
Posts: 1480
Location: Germany

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26 Nov 2005, 10:32
D)...

1) 0,1x+0,06(10000-x)=600 suff

2) 0,1x=1,8(0,06(10000-x) suff
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Senior Manager
Joined: 03 Nov 2005
Posts: 384
Location: Chicago, IL

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26 Nov 2005, 11:09
x+y=10,000 is given from the stem.
(1) .1x+.06y=600. Two equations, two unknowns. Sufficient
(2).1x/.06 y=1.8 Two equations, two unknowns.Sufficient.

D.
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Current Student
Joined: 28 Dec 2004
Posts: 3357
Location: New York City
Schools: Wharton'11 HBS'12

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26 Nov 2005, 11:17
what if he put $0 in the 10% account? isnt that a possibility? if we say he has to put some money into the 10% account then ans is D otherwise I would say C... VP Joined: 22 Aug 2005 Posts: 1112 Location: CA ### Show Tags 26 Nov 2005, 12:18 A is insufficient as we do not know for how many years he deposited money in two accounts. gamjatang, please provide OA for your questions. thanks. _________________ Whether you think you can or think you can't. You're right! - Henry Ford (1863 - 1947) Current Student Joined: 28 Dec 2004 Posts: 3357 Location: New York City Schools: Wharton'11 HBS'12 ### Show Tags 26 Nov 2005, 12:32 duttsit wrote: A is insufficient as we do not know for how many years he deposited money in two accounts. gamjatang, please provide OA for your questions. thanks. good catch... Director Joined: 14 Sep 2005 Posts: 985 Location: South Korea ### Show Tags 26 Nov 2005, 18:20 duttsit wrote: A is insufficient as we do not know for how many years he deposited money in two accounts. gamjatang, please provide OA for your questions. thanks. Duttsit// Exactly what I thought. I thought it should be E since we do not know how many years. However, the OA is D. I guess the OA is wrong. _________________ Auge um Auge, Zahn um Zahn ! SVP Joined: 03 Jan 2005 Posts: 2233 ### Show Tags 26 Nov 2005, 21:29 This is what I thought when I first read the question too but then I realized this question is talking about yearly interest. I think the interpretation of this question is that you only calculate interest when the year was over, because it did not talked about monthly interest. In other words, when the interest is$600, you know it would be at least one year since you've got interest. However it won't be two years or more because you would get more interest than $600 no matter how you allocate your money. In other words the number of years is known. _________________ Keep on asking, and it will be given you; keep on seeking, and you will find; keep on knocking, and it will be opened to you. VP Joined: 22 Aug 2005 Posts: 1112 Location: CA ### Show Tags 26 Nov 2005, 21:34 HongHu wrote: This is what I thought when I first read the question too but then I realized this question is talking about yearly interest. I think the interpretation of this question is that you only calculate interest when the year was over, because it did not talked about monthly interest. In other words, when the interest is$600, you know it would be at least one year since you've got interest. However it won't be two years or more because you would get more interest than $600 no matter how you allocate your money. In other words the number of years is known. Are you saying the ans for S1 will be 0 as 600 will be interest rate if whole 10,000 was deposited into 6% interest rate account? _________________ Whether you think you can or think you can't. You're right! - Henry Ford (1863 - 1947) VP Joined: 22 Aug 2005 Posts: 1112 Location: CA ### Show Tags 26 Nov 2005, 21:41 HongHu wrote: Yes. Thanks HongHu, I would have never figured out this wisdom _________________ Whether you think you can or think you can't. You're right! - Henry Ford (1863 - 1947) SVP Joined: 03 Jan 2005 Posts: 2233 ### Show Tags 26 Nov 2005, 21:48 Hmmm that use of "wisdom" sounds rather cynical. But yes I do think that$600 figure is carefully chosen for that question.
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Keep on asking, and it will be given you;
keep on seeking, and you will find;
keep on knocking, and it will be opened to you.

VP
Joined: 22 Aug 2005
Posts: 1112
Location: CA

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26 Nov 2005, 21:56
HongHu wrote: