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John made total of \$10,000 deposit into two accounts. The

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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.

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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.

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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

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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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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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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...

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26 Nov 2005, 12:18
A is insufficient as we do not know for how many years he deposited money in two accounts.

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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.

good catch...

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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.

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.
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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.
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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?
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26 Nov 2005, 21:41
HongHu wrote:
Yes.

Thanks HongHu, I would have never figured out this wisdom
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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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26 Nov 2005, 21:56
HongHu wrote:
Hmmm that use of "wisdom" sounds rather cynical. But yes I do think that \$600 figure is carefully chosen for that question.

Agree...

well i should have called "trap"
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26 Nov 2005, 21:56
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