Author 
Message 
TAGS:

Hide Tags

Manager
Joined: 27 Jun 2007
Posts: 196

Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
Updated on: 20 Feb 2017, 02:39
2
This post received KUDOS
7
This post was BOOKMARKED
Question Stats:
71% (01:20) correct 29% (01:04) wrong based on 302 sessions
HideShow timer Statistics
Robin split a total of $24,000 between 2 investments, X and Y. If investment Y earns 7% simple annual interest, how much of that total did Robin put into investment Y? (1) Each investment earns the same dollar amount of the interest annually. (2) Investment X earns 5 percent simple annual interest.
Official Answer and Stats are available only to registered users. Register/ Login.
Originally posted by RyanDe680 on 09 May 2008, 18:14.
Last edited by Bunuel on 20 Feb 2017, 02:39, edited 2 times in total.
Renamed the topic, edited the question, added the OA and moved to DS forum.



Manager
Joined: 16 Sep 2007
Posts: 211

Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
09 May 2008, 18:59
1. 24000x=y y*1.07=x*interest rate (24000x)*.07=x*interest rate two variables insufficient
2. I don't know the total amount earned in interest annually insufficient
1&2) (24000x)*.07=x*.05 > x is some numeric value
24000x=y > y is some numeric value
C



Manager
Joined: 27 Jun 2007
Posts: 196

Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
11 May 2008, 15:41
OA is C.
My confusion is how do you know what the "investment" is? Any investment can earn a certain percentage, but it doesn't mean you can calculate based off of that how much you invested in it....
Am I thinking too far into this?



Manager
Joined: 16 Sep 2007
Posts: 211

Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
11 May 2008, 17:19
RyanDe680 wrote: OA is C.
My confusion is how do you know what the "investment" is? Any investment can earn a certain percentage, but it doesn't mean you can calculate based off of that how much you invested in it....
Am I thinking too far into this? wrong. notice the 24000x it is key to solving the problem.



Manager
Joined: 10 Mar 2013
Posts: 246
GMAT 1: 620 Q44 V31 GMAT 2: 690 Q47 V37 GMAT 3: 610 Q47 V28 GMAT 4: 700 Q50 V34 GMAT 5: 700 Q49 V36 GMAT 6: 690 Q48 V35 GMAT 7: 750 Q49 V42 GMAT 8: 730 Q50 V39

Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
05 Jan 2016, 22:45
1
This post received KUDOS
Bunuel or some moderator, please change "If investment earns 7% simple annual interest" to "If investment Y earns 7% simple annual interest" or merge it with this topic: http://gmatclub.com/forum/robinsplitatotalof24000between2investmentsx37523.html. Thanks!



Math Expert
Joined: 02 Aug 2009
Posts: 5774

Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
05 Jan 2016, 23:06
TooLong150 wrote: Bunuel or some moderator, please change "If investment earns 7% simple annual interest" to "If investment Y earns 7% simple annual interest" or merge it with this topic: http://gmatclub.com/forum/robinsplitatotalof24000between2investmentsx37523.html. Thanks! Hi, you are right that the Q seems to replicate the one you have linked... But this Q also can act as a valid Q the way it is and would have C as the answer
_________________
Absolute modulus :http://gmatclub.com/forum/absolutemodulusabetterunderstanding210849.html#p1622372 Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html
GMAT online Tutor



Director
Joined: 05 Mar 2015
Posts: 957

Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
12 Jun 2016, 03:40
RyanDe680 wrote: Robin split a total of $24,000 between 2 investments, X and Y. If investment earns 7% simple annual interest, how much of that total did Robin put into investment Y?
(1) Each investment earns the same dollar amount of the interest annually. (2) Investment X earns 5 percent simple annual interest. considering both statements together. total interest earned 7% of 24000=1680 as per statement(1) each investment earns 1680/2=840 as nterest from (2) investment X earns 5 percent simple annual interest if a part of investment is X then another invested amount=24000X so X*5/100*1=840 giving x=12800 and Y=2400012800=11200 Ans C



Director
Joined: 26 Oct 2016
Posts: 674
Location: United States
Concentration: Marketing, International Business
GPA: 4
WE: Education (Education)

Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
11 Feb 2017, 00:31
1
This post received KUDOS
1 is insufficient because we do not know any relationship between the interest rates or the sums of money. 2 is insufficient because you can't tell anything about investment y, since, again, you do not have a relationship between x and y. Put together, the two stmts are more efficient in solving the mystery. Since we know that 0.07y = 0.05x or that 7y = 5x and we also know that x + y = 24000. This is a simple set of equations with two unknown numbers, x and y. So 7y = 5x x + y = 24 000 Solve this system and you'll get the answer. So answer is C.
_________________
Thanks & Regards, Anaira Mitch



Manager
Joined: 17 May 2015
Posts: 222

Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
11 Feb 2017, 02:16
anairamitch1804 wrote: 1 is insufficient because we do not know any relationship between the interest rates or the sums of money. 2 is insufficient because you can't tell anything about investment y, since, again, you do not have a relationship between x and y.
Put together, the two stmts are more efficient in solving the mystery. Since we know that 0.07y = 0.05x or that 7y = 5x and we also know that x + y = 24000. This is a simple set of equations with two unknown numbers, x and y. So 7y = 5x x + y = 24 000 Solve this system and you'll get the answer.
So answer is C. Hi, Please refer the highlighted part. It is not correct. 7 % interest rate is on the total amount, i.e. on 24000, not on y. Thanks.



Intern
Joined: 01 Jun 2013
Posts: 11

Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
20 Feb 2017, 02:14
1
This post received KUDOS
RyanDe680 wrote: Robin split a total of $24,000 between 2 investments, X and Y. If investment earns 7% simple annual interest, how much of that total did Robin put into investment Y?
(1) Each investment earns the same dollar amount of the interest annually. (2) Investment X earns 5 percent simple annual interest. Question stem is not very much clear, because 7% rate for Y is not explicitly mentioned . M i ryt?



Math Expert
Joined: 02 Sep 2009
Posts: 44599

Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
20 Feb 2017, 02:40
gauraha wrote: RyanDe680 wrote: Robin split a total of $24,000 between 2 investments, X and Y. If investment earns 7% simple annual interest, how much of that total did Robin put into investment Y?
(1) Each investment earns the same dollar amount of the interest annually. (2) Investment X earns 5 percent simple annual interest. Question stem is not very much clear, because 7% rate for Y is not explicitly mentioned . M i ryt? Edited. The stem reads: Robin split a total of $24,000 between 2 investments, X and Y. If investment Y earns 7% simple annual interest, how much of that total did Robin put into investment Y?
_________________
New to the Math Forum? Please read this: Ultimate GMAT Quantitative Megathread  All You Need for Quant  PLEASE READ AND FOLLOW: 12 Rules for Posting!!! Resources: GMAT Math Book  Triangles  Polygons  Coordinate Geometry  Factorials  Circles  Number Theory  Remainders; 8. Overlapping Sets  PDF of Math Book; 10. Remainders  GMAT Prep Software Analysis  SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS)  Tricky questions from previous years.
Collection of Questions: PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.
What are GMAT Club Tests? Extrahard Quant Tests with Brilliant Analytics



Manager
Joined: 02 Jan 2017
Posts: 81
Location: Pakistan
Concentration: Finance, Technology
GPA: 3.41
WE: Business Development (Accounting)

Robin split a total of $24,000 between 2 investments, X and Y. If inve [#permalink]
Show Tags
14 Dec 2017, 02:29
Stem Gives us
X + Y = 24000
Statement 1 Alone is insufficient. As 7 % of small amount can equal to 5 % of bigger amount . Or vice versa. Statement 2 in clearly insufficient.
Combining two.
[7/100] * y= [5/100] *x Equation 1
Stem gave us X + Y =24000 > X=24000 Y Equation 2
Two variables & Two equations. Hence C is the answer.




Robin split a total of $24,000 between 2 investments, X and Y. If inve
[#permalink]
14 Dec 2017, 02:29






