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

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

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

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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
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Source: — Data Sufficiency |

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by Jay@ManhattanReview » Mon Jul 29, 2019 10:36 pm

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E

Global Stats

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
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