Last visit was: 14 Sep 2024, 08:10 It is currently 14 Sep 2024, 08:10
Toolkit
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

# Robin invested a total of $12,000 in two investments, X and Y, so that SORT BY: Tags: Show Tags Hide Tags Math Expert Joined: 02 Sep 2009 Posts: 95503 Own Kudos [?]: 658504 [82] Given Kudos: 87257 Most Helpful Reply Manager Joined: 10 Jun 2018 Posts: 50 Own Kudos [?]: 65 [22] Given Kudos: 1 Location: Australia Concentration: Technology, General Management Schools: Other Schools GPA: 2.88 WE:Science (Pharmaceuticals and Biotech) GMAT Club Legend Joined: 12 Sep 2015 Posts: 6803 Own Kudos [?]: 31311 [17] Given Kudos: 799 Location: Canada General Discussion RC & DI Moderator Joined: 02 Aug 2009 Status:Math and DI Expert Posts: 11510 Own Kudos [?]: 36008 [8] Given Kudos: 333 Re: Robin invested a total of$12,000 in two investments, X and Y, so that [#permalink]
5
Kudos
3
Bookmarks
Bunuel
Robin invested a total of $12,000 in two investments, X and Y, so that the investments earned the same amount of simple annual interest. How many dollars did Robin invest in investment Y ? (1) Investment X paid 3 percent simple annual interest, and investment Y paid 6 percent simple annual interest. (2) Robin invested more than$1,000 in investment X.

NEW question from GMAT® Official Guide 2019

(DS02441)

Simple interest = PRT/100, where P is principal, R rate of interest and T is time..
Here time is 1 year, as we are looking at simple annual interest..
SAI=PR/100..

1) statement I gives the two rate of interest as 3 and 6..
So z*3/100=(12000-z)*6/100..
It's a linear equation in z, you can find the value of z
Sufficient
2) statement II tells us that Robin invested $1000 more.. Nothing much Insufficient A e-GMAT Representative Joined: 04 Jan 2015 Posts: 3709 Own Kudos [?]: 17757 [3] Given Kudos: 165 Re: Robin invested a total of$12,000 in two investments, X and Y, so that [#permalink]
2
Kudos
1
Bookmarks

Solution

Given:
• Robin invested total $12000 in two investments, X and Y • The investments earned same amount of simple annual interest To find: • The amount (dollars) Robin invested in Y Analysing Statement 1 • As per the information given in statement 1, investment X paid 3% simple interest whereas investment Y paid 6% simple interest • If we assume that investment in X is P, then investment in Y will be (12000 – P) • As the simple annual interest earned is same, we can write: o $$\frac{P * 3}{100} = \frac{(12000 – P) * 6}{100}$$ • We can get the value of P as well as (12000 – P) Hence, statement 1 is sufficient to answer Analysing Statement 2 • As per the information given in statement 2, Robin invested more than$1000 in investment X
o From this, we cannot find out the exact investment in X and Y individually

Hence, statement 2 is not sufficient to answer

Hence, the correct answer is option A.

Intern
Joined: 12 Dec 2012
Posts: 10
Own Kudos [?]: 11 [5]
Given Kudos: 148
Location: United States (GA)
GMAT 1: 680 Q46 V37
GPA: 4
Re: Robin invested a total of $12,000 in two investments, X and Y, so that [#permalink] 4 Kudos 1 Bookmarks For many folks(including me), who are wondering where is the time period specified, focus on the language of the question. That is the trick in this otherwise simple question. "Robin invested a total of$12,000 in two investments, X and Y, so that the investments earned the same amount of simple annual interest. How many dollars did Robin invest in investment Y ?"

"simple annual interest" and not "simple interest" so, the time period is 1 year.
Intern
Joined: 18 Oct 2019
Posts: 18
Own Kudos [?]: 27 [1]
Given Kudos: 25
Location: India
Re: Robin invested a total of $12,000 in two investments, X and Y, so that [#permalink] 1 Kudos Statement 2 gives no clarity on the boundaries of values of investment Whereas statement 1 can give the exact value Posted from my mobile device Intern Joined: 18 Oct 2019 Posts: 18 Own Kudos [?]: 27 [3] Given Kudos: 25 Location: India Re: Robin invested a total of$12,000 in two investments, X and Y, so that [#permalink]
3
Kudos
Mihiran
For many folks(including me), who are wondering where is the time period specified, focus on the language of the question.
That is the trick in this otherwise simple question.

"Robin invested a total of $12,000 in two investments, X and Y, so that the investments earned the same amount of simple annual interest. How many dollars did Robin invest in investment Y ?" "simple annual interest" and not "simple interest" so, the time period is 1 year. Yes noticing the annual simple interest is the key, else statements are not sufficient Posted from my mobile device Manager Joined: 13 Sep 2020 Posts: 111 Own Kudos [?]: 14 [0] Given Kudos: 413 Location: India GMAT 1: 690 Q49 V34 Re: Robin invested a total of$12,000 in two investments, X and Y, so that [#permalink]
@Bunel, how is this correct when time is not defined in this question? How have we assumed that time is 1 year?

Gagan
Senior Manager
Joined: 25 Aug 2020
Posts: 250
Own Kudos [?]: 162 [1]
Given Kudos: 216
Re: Robin invested a total of $12,000 in two investments, X and Y, so that [#permalink] 1 Kudos gagan0303 @Bunel, how is this correct when time is not defined in this question? How have we assumed that time is 1 year? Will be waiting for your reply. Gagan Dear gagan0303 Take into consideration question stem: Robin invested a total of$12,000 in two investments, X and Y, so that the investments earned the same amount of simple annual interest. How many dollars did Robin invest in investment Y ?

(1) Investment X paid 3 percent simple annual interest, and investment Y paid 6 percent simple annual interest.

It signifies that we compare only "simple annual interest" to "simple annual interest"
In the dearth of the information we can only consider annual interest equal to 1 year.
GMAT Club Legend
Joined: 08 Jul 2010
Status:GMAT/GRE Tutor l Admission Consultant l On-Demand Course creator
Posts: 6065
Own Kudos [?]: 14133 [2]
Given Kudos: 125
Location: India
GMAT: QUANT+DI EXPERT
Schools: IIM (A) ISB '24
GMAT 1: 750 Q51 V41
WE:Education (Education)
Re: Robin invested a total of $12,000 in two investments, X and Y, so that [#permalink] 1 Kudos 1 Bookmarks Expert Reply Bunuel Robin invested a total of$12,000 in two investments, X and Y, so that the investments earned the same amount of simple annual interest. How many dollars did Robin invest in investment Y ?

(1) Investment X paid 3 percent simple annual interest, and investment Y paid 6 percent simple annual interest.
(2) Robin invested more than $1,000 in investment X. Wanna make solving the Official Questions interesting??? Click here and solve 1000+ Official Questions with Video solutions as Timed Sectional Tests and Dedicated Data Sufficiency (DS) Course Answer: Option A Video solution by GMATinsight Get TOPICWISE: Concept Videos | Practice Qns 100+ | Official Qns 50+ | 100% Video solution CLICK HERE. Two MUST join YouTube channels : GMATinsight (1000+ FREE Videos) and GMATclub Target Test Prep Representative Joined: 14 Oct 2015 Status:Founder & CEO Affiliations: Target Test Prep Posts: 19460 Own Kudos [?]: 23239 [1] Given Kudos: 286 Location: United States (CA) Re: Robin invested a total of$12,000 in two investments, X and Y, so that [#permalink]
1
Kudos
Bunuel
Robin invested a total of $12,000 in two investments, X and Y, so that the investments earned the same amount of simple annual interest. How many dollars did Robin invest in investment Y ? (1) Investment X paid 3 percent simple annual interest, and investment Y paid 6 percent simple annual interest. (2) Robin invested more than$1,000 in investment X.

NEW question from GMAT® Official Guide 2019

(DS02441)
Solution:

Question Stem Analysis:

We need to determine the amount invested in investment Y given that a total of $12,000 was invested in investments X and Y and the two investments earned the same amount of simple annual interest. Statement One Alone: Since we know investment Y paid 6 percent simple annual interest, which is twice 3 percent simple annual interest that investment X paid, then, in order for the two investments to earn the same amount of simple annual interest, the amount invested in investment Y needs to be half that in investment X. In other words, investment Y should be$4,000 (and investment X should be $8,000). Statement one alone is sufficient. Statement Two Alone: Knowing investment X is more than$1,000 does not allow us to determine the amount invested in investment Y. Statement two alone is not sufficient.

Tutor
Joined: 17 Jul 2019
Posts: 1299
Own Kudos [?]: 1791 [1]
Given Kudos: 66
GMAT 1: 780 Q51 V45
GMAT 2: 780 Q50 V47
GMAT 3: 770 Q50 V45
Re: Robin invested a total of $12,000 in two investments, X and Y, so that [#permalink] 1 Kudos Expert Reply Video solution from Quant Reasoning: Subscribe for more: https://www.youtube.com/QuantReasoning? ... irmation=1 Intern Joined: 08 Aug 2022 Posts: 22 Own Kudos [?]: 4 [0] Given Kudos: 23 Re: Robin invested a total of$12,000 in two investments, X and Y, so that [#permalink]
noticing the annual simple interest is the key
Non-Human User
Joined: 09 Sep 2013
Posts: 34832
Own Kudos [?]: 878 [0]
Given Kudos: 0
Re: Robin invested a total of $12,000 in two investments, X and Y, so that [#permalink] Hello from the GMAT Club BumpBot! Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos). Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. Re: Robin invested a total of$12,000 in two investments, X and Y, so that [#permalink]
Moderator:
Math Expert
95503 posts