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Afroditee
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Larry has 14000 dollars to make two one-year investments, one of which 10 Oct 2022, 10:53
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!

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25% (medium)

Question Stats:

79% (02:09) correct 21% (02:43) wrong based on 112 sessions

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Larry has 14000 dollars to make two one-year investments, one of which has a simple annual interest rate of 6%, and the other has 3%. The interest of the two investment is the same. How much money is invested in the 6% investment?

A. 4666.67
B. 4560.12
C. 6666
D. 6667
E. 6668
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A
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Kushchokhani
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Larry has 14000 dollars to make two one-year investments, one of which 10 Oct 2022, 18:10
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As interest amount in both investments is the same but interest rate of one investment is double than the other, investment amount for the double interest rate investment will be half.

So, amount invested in 6% investment=14000/3=4666.67

Hence, answer is A.
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Larry has 14000 dollars to make two one-year investments, one of which 11 Oct 2022, 08:40
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Given: Larry has 14000 dollars to make two one-year investments, one of which has a simple annual interest rate of 6%, and the other has 3%. The interest of the two investment is the same.

Asked: How much money is invested in the 6% investment?

Let the money invested in the 6% investment be x

x*6% = (14000-x)*3%
2x = 14000-x
x = 14000/3 = 4666.67

IMO A
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Larry has 14000 dollars to make two one-year investments, one of which 11 Oct 2022, 10:32
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solve it
(14000-x) * 6*1 = 3x
x = 93333
6% amount ; 14000-9333 ; 4666
option A

Afroditee
Larry has 14000 dollars to make two one-year investments, one of which has a simple annual interest rate of 6%, and the other has 3%. The interest of the two investment is the same. How much money is invested in the 6% investment?

A.4666.67

B.4560.12

C.6666

D.6667

E.6668
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Larry has 14000 dollars to make two one-year investments, one of which 12 Oct 2022, 06:42
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Let the first amount invested be x,
let the second amount invested be 14000-x.

Therefore, as we know the interest is the same for the amounts despite being invested at different interest rates.

\(\frac{x*6*1}{100}\) = \(\frac{14000-x*3*1}{100}\)

On further solving, x is 4666.67

The OA is A.
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Larry has 14000 dollars to make two one-year investments, one of which 19 Nov 2025, 05:07
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