Robin split a total of 24k between 2 investments, x and y. If investments y earns 7 percent simploe annual interest, how much of the total did RObin put into investment Y?
I. Each investment earns the same dollar amount of the interest annually
II. Investment X earns 5 percent simple annual interest.
How can both determine the exxact amount in investment y, if we can't say for sure by what amount interest is based on?
please explain
gmat prep question
This topic has expert replies
- ajith
- Legendary Member
- Posts: 1275
- Joined: Thu Sep 21, 2006 11:13 pm
- Location: Arabian Sea
- Thanked: 125 times
- Followed by:2 members
Clearly I and II alone are not sufficientyvonne12 wrote:Robin split a total of 24k between 2 investments, x and y. If investments y earns 7 percent simploe annual interest, how much of the total did RObin put into investment Y?
I. Each investment earns the same dollar amount of the interest annually
II. Investment X earns 5 percent simple annual interest.
How can both determine the exxact amount in investment y, if we can't say for sure by what amount interest is based on?
please explain
Combining I and II
X*5/100 = Y*7/100
5x=7y
x+y=24k
you can solve these 2 equations and find out the exact Y ...
:roll:
Always borrow money from a pessimist, he doesn't expect to be paid back.