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Robin split a total of $24,000 between 2 investments, X and Y. If inve

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Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post Updated on: 20 Feb 2017, 02:39
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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.

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.
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Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 09 May 2008, 18:59
1.
24000-x=y
y*1.07=x*interest rate
(24000-x)*.07=x*interest rate
two variables
insufficient

2.
I don't know the total amount earned in interest annually
insufficient

1&2)
(24000-x)*.07=x*.05
->
x is some numeric value

24000-x=y
->
y is some numeric value

C
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Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 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?
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Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 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 24000-x it is key to solving the problem.
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Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 05 Jan 2016, 22:45
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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/robin-split-a-total-of-24-000-between-2-investments-x-37523.html. Thanks!
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Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 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/robin-split-a-total-of-24-000-between-2-investments-x-37523.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
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Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 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=24000-X
so X*5/100*1=840
giving x=12800
and Y=24000-12800=11200
Ans C
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Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 11 Feb 2017, 00:31
1
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.
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Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 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.
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Re: Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 20 Feb 2017, 02:14
1
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?
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Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 20 Feb 2017, 02:40
1
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?
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Robin split a total of $24,000 between 2 investments, X and Y. If inve  [#permalink]

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New post 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 &nbs [#permalink] 14 Dec 2017, 02:29
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