interest

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interest

by arorag » Mon Sep 01, 2008 11:35 am
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.

Ans C, IMO D

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by anju » Mon Sep 01, 2008 4:20 pm
Stmt 1 does not give any information on the amount so 1 is Insuff
Stmt 2 does not give any infromation on the interest rates so 2 is insuff

Stmt 1 & 2 together gives info about the amount and respective interest rates so - SUFf

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by andes1 » Mon Sep 01, 2008 5:47 pm
HUMMM???
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Re: interest

by Stuart@KaplanGMAT » Tue Sep 02, 2008 9:59 am
arorag wrote: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.

Ans C, IMO D
There's information missing from the question stem.
But of this amount _______ earned simple annual interest at the rate of x percent per year
or
But [some] of this amount earned simple annual interest at the rate of x percent per year
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