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23 Nov 2023, 08:31
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D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
75% (01:41) correct
25%
(02:26)
wrong
based on 987
sessions
History
Date
Time
Result
Not Attempted Yet
Janice made three investments totaling $5,000. In the first year the investments earned 6 percent, 8 percent, and 9 percent interest, respectively. Which of the following could be the total amount of interest earned on the three investments that year?
I. $475
II. $425
III. $335
A) I only
B) II only
C) I and II only
D) II and III only
E) I, II, and III
I. $475
II. $425
III. $335
A) I only
B) II only
C) I and II only
D) II and III only
E) I, II, and III
I understand the correct answer but i took too much time solving as I keep picking numbers after making the necessary adjustments in the equations. Does anyone has any tips in solving this faster?
Thank you in advance!!
Thank you in advance!!
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23 Nov 2023, 09:22
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eva.carita
Maximum Possible Interest
Janice earns maximum interest if she invests all the amount at a 9% rate of interest.
Max Interest earned = \(\frac{5000 * 9 * 1}{100} = $450\)
Minimum Possible Interest
Janice earns minimum interest if she invests all the amount at a 6% rate of interest.
Min Interest earned = \(\frac{5000 * 6 * 1}{100} = $300\)
Hence the interest Janice earns will be between $300 and $450.
\($300 < \) Interest Earned \(< $450\)
From the given options, II and III satisfy the value range.
Option D
General Discussion
