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20 Aug 2007, 07:37
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N
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
(N/A)
Question Stats:
50% (00:25) correct
50%
(00:09)
wrong
based on 2
sessions
History
Date
Time
Result
Not Attempted Yet
A total of $60,000 was invested for one year. But of this amount earned simple annual
interest at the rate of x percent per year, and the rest earned simple annual interest at the
rate of y percent per year. If the total interest earned by the $60,000 for that year was
$4,080, what is the value of x?
(1) x = (3/4) y
(2) The ratio of the amount that earned interest at the rate of x percent per year to
the amount that earned interest at the rate of y percent per year was 3 to 2.
OA is C, can anyone explain? thanks!
interest at the rate of x percent per year, and the rest earned simple annual interest at the
rate of y percent per year. If the total interest earned by the $60,000 for that year was
$4,080, what is the value of x?
(1) x = (3/4) y
(2) The ratio of the amount that earned interest at the rate of x percent per year to
the amount that earned interest at the rate of y percent per year was 3 to 2.
OA is C, can anyone explain? thanks!
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Data Sufficiency (DS) Forum
Still interested in this question? Check out the "Best Topics" block below for a better discussion on this exact question, as well as several more related questions.
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20 Aug 2007, 07:59
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minnu
Fact 1
Let A = amount invested at X%
so amount invested at y% = 60000-A
we got equation;
A*(3/4)y% + (60000-A)*y% = 4080
since it's 2-variable equation and we have only one equation, we cannot solve
so eliminate A and D
Fact 2
from this we know that we invest 36000 at X% and 24000 at y%
we got;
36000*X% + 24000*Y% = 4080
again, it cannot be solved
thus eliminate B
Combined facts
36000*(3/4)y% + 24000*y% = 4080
we can find y, and we then can find x
so answer is C
20 Aug 2007, 12:08
Kudos
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A total of $60,000 was invested for one year. But of this amount earned simple annual
interest at the rate of x percent per year, and the rest earned simple annual interest at the
rate of y percent per year. If the total interest earned by the $60,000 for that year was
$4,080, what is the value of x?
(1) x = (3/4) y
(2) The ratio of the amount that earned interest at the rate of x percent per year to
the amount that earned interest at the rate of y percent per year was 3 to 2.
Here is another way of Solving it ....
x% y%
P (60,000 - p) p
I 4,080- i i
R x y
T 1 1
First equation
I = PRT
(4,080- i ) = (60,000 -p)x
Second Equation
i = py
4080 - py = 60,000x - px
We have (3) Unknown variables, P,X, y
Given options 1 - we can substitue X for y , which still leaves us with P
Given option 2
i / 60,000 - i = 2/ 3
We can solve for i , hence C
Hope I didnt confuse you. its sort of a long shot..but this is how I solved it.
interest at the rate of x percent per year, and the rest earned simple annual interest at the
rate of y percent per year. If the total interest earned by the $60,000 for that year was
$4,080, what is the value of x?
(1) x = (3/4) y
(2) The ratio of the amount that earned interest at the rate of x percent per year to
the amount that earned interest at the rate of y percent per year was 3 to 2.
Here is another way of Solving it ....
x% y%
P (60,000 - p) p
I 4,080- i i
R x y
T 1 1
First equation
I = PRT
(4,080- i ) = (60,000 -p)x
Second Equation
i = py
4080 - py = 60,000x - px
We have (3) Unknown variables, P,X, y
Given options 1 - we can substitue X for y , which still leaves us with P
Given option 2
i / 60,000 - i = 2/ 3
We can solve for i , hence C
Hope I didnt confuse you. its sort of a long shot..but this is how I solved it.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Data Sufficiency (DS) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
