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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
Question Stats:
73% (01:19) correct
27%
(00:56)
wrong
based on 30
sessions
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An investor invests $10,000 at R percent simple annual interest and a different amount at P percent simple annual interest. What total amount did the investor invest?
(1) The total amount of interest earned by the two investments in one year is $1,800.
(2) R = 6.
(1) The total amount of interest earned by the two investments in one year is $1,800.
(2) R = 6.
20 Jan 2026, 23:10
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An investor invests $10,000 at R percent simple annual interest and a different amount at P percent simple annual interest. What total amount did the investor invest?
(1) The total amount of interest earned by the two investments in one year is $1,800.
(2) R = 6.
Given:
The investor invests $10,000 at R% SI and a different amount (say 'X') at P% SI.
We need to find out the total amount invested by the investor, i.e. $(X+10,000)
Now, let's look at each of the two statements one by one, and then together.
Statement 1: The total amount of interest earned by the two investments in one year is $1,800.
SI = PRT/100
Total Interest = 10,000*(R/100)*1 + (X*P)/100 = 1800
Since, there are 2 variables, and no other information given as part of Statement 1, we cannot uniquely determine the value of X. Hence, Statement 1 is insufficient aone.
Statement 2: R = 6
Using Statement 2 alone, we do not arrive at any conclusion as we are required to find out the value of $(X+10,000) and there's nothing that can be deduced using R = 6 alone in this case.
Statement 1 & 2 together:
10,000*(R/100)*1 + (X*P)/100 = 1800 & R = 6
If you look closely, even if we know the value of R, we do not know the value of X and P at this stage. We still cannot unqiuely determine the value of $(X+10,000).
Hence, the correct option should be Option E - Neither alone nor together sufficient (Answer)
(1) The total amount of interest earned by the two investments in one year is $1,800.
(2) R = 6.
Given:
The investor invests $10,000 at R% SI and a different amount (say 'X') at P% SI.
We need to find out the total amount invested by the investor, i.e. $(X+10,000)
Now, let's look at each of the two statements one by one, and then together.
Statement 1: The total amount of interest earned by the two investments in one year is $1,800.
SI = PRT/100
Total Interest = 10,000*(R/100)*1 + (X*P)/100 = 1800
Since, there are 2 variables, and no other information given as part of Statement 1, we cannot uniquely determine the value of X. Hence, Statement 1 is insufficient aone.
Statement 2: R = 6
Using Statement 2 alone, we do not arrive at any conclusion as we are required to find out the value of $(X+10,000) and there's nothing that can be deduced using R = 6 alone in this case.
Statement 1 & 2 together:
10,000*(R/100)*1 + (X*P)/100 = 1800 & R = 6
If you look closely, even if we know the value of R, we do not know the value of X and P at this stage. We still cannot unqiuely determine the value of $(X+10,000).
Hence, the correct option should be Option E - Neither alone nor together sufficient (Answer)
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