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500ps test23 #14

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Master | Next Rank: 500 Posts
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by dunkin77 » Mon Apr 16, 2007 10:58 am
Hi,

Can anyone please help with the atached question?







(the answer is D )
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by jayhawk2001 » Mon Apr 16, 2007 8:08 pm
Let x be the amount invested in the 8% deposit

x*8/100 + (20000 - x)*6/100 = 1440
2x = 24000
x = 12000

So, fraction of amount in 8% (higher rate) = 12000 / 20000 = 3/5

Hence D
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by dunkin77 » Mon Apr 16, 2007 10:41 pm
Oh Ok! (I was thinking how to determine the higher rate...but it indicates 8%) Thank you for your help as always!! :D
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by Cybermusings » Tue Apr 17, 2007 2:24 am
Let one invested in 8% be x. Amt invested in 6% =20,000-x
8x/100 + [6(20,000-x)]/100 = 1440
8x/100 + [120,000-6x]/100 = 1440
2x+120,000=144,000
2x=24,000
X=12,000
Fraction = 12,000/20,000 = 6/10=3/5
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