Quentin put an amount of money into each of two new investments, \(X\) and \(Y.\) Investment \(X\) pays \(x\%\) simple

This topic has expert replies
Moderator
Posts: 1953
Joined: 29 Oct 2017
Thanked: 1 times
Followed by:5 members

Timer

00:00

Your Answer

A

B

C

D

E

Global Stats

Quentin put an amount of money into each of two new investments, \(X\) and \(Y.\) Investment \(X\) pays \(x\%\) simple annual interest and investment \(Y\) pays \(y\%\) simple annual interest. After \(1\) year, the average (arithmetic mean) interest earned by investments \(X\) and \(Y\) was \(7.6\%.\) If \(x\) and \(y\) are consecutive positive integers, in that order, what fraction of the total amount was put in investment \(X?\)

A. \(\dfrac15\)

B. \(\dfrac13\)

C. \(\dfrac25\)

D. \(\dfrac35\)

E. \(\dfrac23\)

Answer: C

Source: GMAT Club Tests