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by yvonne12 » Thu Apr 12, 2007 11:20 am
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
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Re: gmat prep question

by ajith » Thu Apr 12, 2007 9:07 pm
yvonne12 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
Clearly I and II alone are not sufficient
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.
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