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

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

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New post 15 Jul 2016, 13:54
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Question Stats:

37% (00:58) correct 63% (01:40) wrong based on 183 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?

(1) c - d = 1
(2) c = 0.75d
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Re: Leo invested a certain amount of money for one year. He invested $1,00  [#permalink]

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New post 16 Jul 2016, 08:04
1
We can set up 2 equations:
1000x(1 + c/100) = 30 (c = interest)
T - 1000x(1+d/100) = 30 (d = second interest, and T is total amount)

From 1) you can find d and c, and total
From 2) you can also find d and c, and total
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Re: Leo invested a certain amount of money for one year. He invested $1,00  [#permalink]

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New post 07 Aug 2016, 08:32
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please sir bunuel provide explanation how the ans is d.
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Re: Leo invested a certain amount of money for one year. He invested $1,00  [#permalink]

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

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

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New post 04 Sep 2016, 01:49
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KarishmaParmar wrote:
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?


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

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

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New post 22 Jun 2017, 07:49
EACH :wall :wall
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Re: Leo invested a certain amount of money for one year. He invested $1,00  [#permalink]

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New post 29 Oct 2017, 21:07
Statement 1 and 2 are contradicting each other,

Statement 1 : c is greater than d
Statement 2: c is less than d

How come as interests only positive?
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Re: Leo invested a certain amount of money for one year. He invested $1,00  [#permalink]

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New post 21 Apr 2018, 03:23
vel4gmat wrote:
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


Well , if the answer is C then it cannot be " each " It has to be combined interest is 30.

Answer can be D only if interest of each is = 30

Hope moderator will look into this.
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Re: Leo invested a certain amount of money for one year. He invested $1,00 &nbs [#permalink] 21 Apr 2018, 03:23
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