BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

On a certain date, Hannah invested $5,000 at x percent

Expert replies
by BTGmoderatorDC » Sat Jul 27, 2019 5:27 pm

Timer

00:00

Answers

A

B

C

D

E

Stats

Difficulty

On a certain date, Hannah invested $5,000 at x percent simple annual interest and a different amount at y percent simple annual interest. What amount did Hannah invest at y percent simple annual interest?

(1) The total amount of interest earned by Hannah's two investments in one year was $900.
(2) Hannah invested the $5,000 at 6 percent simple annual interest.

OA E

Source: Official Guide
Join the discussion
Source: — Data Sufficiency |

by Jay@ManhattanReview » Mon Jul 29, 2019 10:36 pm
BTGmoderatorDC wrote:On a certain date, Hannah invested $5,000 at x percent simple annual interest and a different amount at y percent simple annual interest. What amount did Hannah invest at y percent simple annual interest?

(1) The total amount of interest earned by Hannah's two investments in one year was $900.
(2) Hannah invested the $5,000 at 6 percent simple annual interest.

OA E

Source: Official Guide
Say the other amount is $P. We have to get the value of P.

Let's take each statement one by one.

(1) The total amount of interest earned by Hannah's two investments in one year was $900.

=> (5,000*x*1)/100 + (P*y*1)/100 = 900

Can't get the value of P. Insufficient.

(2) Hannah invested the $5,000 at 6 percent simple annual interest.

=> x = 6

No information about y. Can't get the value of P. Insufficient.

Statement 1 and 2 together

From (1), we have (5,000*x*1)/100 + (P*y*1)/100 = 900 and from (2), we have x = 6

Thus, (5,000*6*1)/100 + (P*y*1)/100 = 900

Still, can't get the value of P. Insufficient.

The correct answer: E

Hope this helps!

-Jay
_________________
Manhattan Review GMAT Prep

Locations: Lausanne GMAT Prep | Free TOEFL Practice Questions | LSAT Prep Courses Montreal | Hong Kong SAT Prep Courses | and many more...

Schedule your free consultation with an experienced GMAT Prep Advisor! Click here.
Join the discussion