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# On a certain date, Hannah invested \$5,000 at x percent

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Manager
Joined: 06 Nov 2008
Posts: 53
On a certain date, Hannah invested \$5,000 at x percent [#permalink]

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14 Nov 2008, 09:20
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

On a certain date, Hannah invested \$5,000 at x percent simple annual interest and a different amount at y percent simple annual interest. What amount did Hannah invest at y percent simple annual interest?
(1) The total amount of interest earned by Hannah’s due investments in one year was \$900.
(2) Hannah invested the \$5,000 at 6 percent simple annual interest.

A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient
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Joined: 30 Apr 2008
Posts: 1863
Location: Oklahoma City
Schools: Hard Knocks

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14 Nov 2008, 09:33
E

We need to find the vlaue of y. There are 3 variables to this equation. Principle (P), APR (x & q for each respective investment) & Income (i). We're told that 2 investments are made, so we'll have P1, x and i1 and P2, y and i2. The first \$5k and the second unknown. Each of the APR is unknown as well. (1) tells us the total amount of \$ earned from interest is \$900. So we would have the equation of (\$5,000 * x) + (P2 * y) = \$900. We don't have enough information from (1) to isolate y and determine its value.

(2) tells us the value of x as 6% APR. So fill it into the equation above and we still don't have P2 or y. We must not bring in the information from (1) because it does us no good, AND this is only considering (2) by itself. Still Insufficient.

Together, the information is insufficient. If we know x = 6%, then \$5,000 * 0.06 = \$300

\$5,000 * 0.06 = \$300
\$5000 * 0.06 + P2 * y = \$900

We need to sub in the \$300 for \$5000 * 0.06

300 + P2 * y = 900
P2 * y = 600

Still don't have enough information

P2 could be 10000 and y is 6% or P2 could be \$20,000 and y = 3%. Point is we don't know and together it's insufficient. Therefore Answer is E.

haichao wrote:
On a certain date, Hannah invested \$5,000 at x percent simple annual interest and a different amount at y percent simple annual interest. What amount did Hannah invest at y percent simple annual interest?
(1) The total amount of interest earned by Hannah’s due investments in one year was \$900.
(2) Hannah invested the \$5,000 at 6 percent simple annual interest.

A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient

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J Allen Morris
**I'm pretty sure I'm right, but then again, I'm just a guy with his head up his a\$\$.

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Re: interest---26   [#permalink] 14 Nov 2008, 09:33
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# On a certain date, Hannah invested \$5,000 at x percent

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