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15 Jul 2016, 13:54
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D
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Difficulty:
85%
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Question Stats:
46% (02:02) correct
54%
(02:34)
wrong
based on 190
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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 and the amount that he invested at d percent each 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
(1) c - d = 1
(2) c = 0.75d
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?
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07 Aug 2016, 09:47
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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.
"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.
General Discussion
16 Jul 2016, 08:04
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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
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
