A sum of money 5000 is invested in two different Banks, A and B, with

Question

A sum of money 5000 is invested in two different Banks, A and B, with different simple interest rates. The rate of interest of Bank A is 15%, and the rate of interest of Bank B is 10%. If the total amount accrued in Bank A at the end of 6 years is equal to the total amount accrued in Bank B at the end of 9 years, what is the amount of money invested in Bank B?

A) 1500
B) 2000
C) 3000
D) 2500
E) 3500

Show Spoiler

Attachment:

Screenshot 2025-10-11 15.15.07.png [ 142.31 KiB | Viewed 890 times ]

Show Answer

Official Answer

D

Shreyaarora · Answer

so, x & 5000-x are the two amounts.

x*15%*6= (5000-x)*10%*9
this gives x=2500.

super easy & super simple.

edoardogreco · Answer

Just a note: the RHS of the equation is (x-5000)*0,1*9; otherwise the x's would cancel out and there would be no solution.

autveniam · Answer

just notice, on the right side should be (5000-x) not (x-5000)

Keshav1404 · Answer

Let's denote:
 
 The amount invested in Bank A as 'x'. 
 The amount invested in Bank B as 5000−x (since the total investment is 5000).  
Formula for Simple Interest:
The formula for the total amount A accrued with simple interest is:
A=P(1+rt)
Where:
 
 P is the principal amount. 
 r is the rate of interest per year (in decimal form). 
 t is the time in years.  
For Bank A:
 
 Principal = x 
 Rate = 15% = 0.15 
 Time = 6 years  
So, the total amount in Bank A after 6 years is:
A=x(1+0.15×6)=x(1+0.9)=1.9x
For Bank B:
 
 Principal = 5000−x 
 Rate = 10% = 0.10 
 Time = 9 years  
So, the total amount in Bank B after 9 years is:
AB=(5000−x)(1+0.10×9)=(5000−x)(1+0.9)=1.9(5000−x)

Given:
The total amounts accrued in both banks are equal at the end of the given time periods:
1.9x=1.9(5000−x)
Simplifying the equation:
x=5000−x
So, the amount invested in Bank A is 2500. Therefore, the amount invested in Bank B is:
5000−2500=2500

Shreyaarora · Answer

ah sorry my bad- didn't notice that. thanks for pointing it out!

A sum of money 5000 is invested in two different Banks, A and B, with

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards

GMAT Problem Solving (PS) Questions

A sum of money 5000 is invested in two different Banks, A and B, with

Prep Toolkit

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards