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Leo invested a certain amount of money for one year. He invested $1,00 [#permalink]

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15 Jul 2016, 13:54

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A

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C

D

E

Difficulty:

95% (hard)

Question Stats:

36% (01:05) correct
64% (01:45) wrong based on 151 sessions

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Leo invested a certain amount of money for one year. He invested $1,000 of the amount at c percent simple annual interest and the rest of the amount at d percent simple annual interest. If the amount that Leo invested at c percent annual interest and the amount that he invested at d percent annual interest earned $30 in interest for that year, what was the total amount that Leo invested for that year?

Re: Leo invested a certain amount of money for one year. He invested $1,00 [#permalink]

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07 Aug 2016, 09:47

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pvikas wrote:

please sir bunuel provide explanation how the ans is d.

I think "If the amount that Leo invested at c percent annual interest and the amount that he invested at d percent annual interest earned $30 in interest for that year" means each of the amounts are getting an interest of $30.

If yes, then We can simply use each of the statements alone to find the total amount.

We know 1000*c*1/100 = 30, we can find out c=3.

Also, let total amount is X.

We can say (X-1000) * d*1/100 = 30.

Now, as per statement 1, we know c-d=1. We have the value of c, this would give us teh value of D and which in turn when substituted to equation above will give X.

Same goes for statement 2.

Hence, D

Please correct me if I am missing anything.
_________________

Re: Leo invested a certain amount of money for one year. He invested $1,00 [#permalink]

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03 Sep 2016, 15:45

mitko20m wrote:

Leo invested a certain amount of money for one year. He invested $1,000 of the amount at c percent simple annual interest and the rest of the amount at d percent simple annual interest. If the amount that Leo invested at c percent annual interest and the amount that he invested at d percent annual interest earned $30 in interest for that year, what was the total amount that Leo invested for that year?

(1) c - d = 1 (2) c = 0.75d

Is this an official question? I ask because it is not clear from the wording of the Q whether the interest for each is 30 or together. Am I misreading?
_________________

It is not who I am underneath but what I do that defines me.

Leo invested a certain amount of money for one year. He invested $1,000 of the amount at c percent simple annual interest and the rest of the amount at d percent simple annual interest. If the amount that Leo invested at c percent annual interest and the amount that he invested at d percent annual interest earned $30 in interest for that year, what was the total amount that Leo invested for that year?

(1) c - d = 1 (2) c = 0.75d

Is this an official question? I ask because it is not clear from the wording of the Q whether the interest for each is 30 or together. Am I misreading?

Hi, You are absolutely correct that the wordings are misleading.... Use of EACH or COMBINED would have clarified the issue.. Cannot be an official Q..
_________________

Re: Leo invested a certain amount of money for one year. He invested $1,00 [#permalink]

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10 Oct 2016, 09:13

Hi chetan

This is an official question as it appeared in the question bank of one of the exam packs from gmat prep. Yes, the wording is confusing. But the official answer is c. So we may be need to assume that $30 each