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An investor divides $10,000 into two investments, one paying 7% and o
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27 Jul 2022, 01:58
27 Jul 2022, 01:58
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Question Stats:
85% (01:39) correct
14% (02:40) wrong based on 7 sessions
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An investor divides $10,000 into two investments, one paying 7% and one 8% annually. At the end of the year she has made $720. How much did she invest at 8%?
A $1000
B $2000
C $4800
D $6300
E $9000
A $1000
B $2000
C $4800
D $6300
E $9000
Part of the project: GRE QCQ & PS 3 Questions Every One DAILY Challenge - (2022)
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GRE Math Essentials (2022)
GRE Geometry Formulas for a Q170
GRE - Math Book
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GRE Math Essentials (2022)
GRE Geometry Formulas for a Q170
GRE - Math Book
Re: An investor divides $10,000 into two investments, one paying 7% and o
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27 Jul 2022, 14:10
27 Jul 2022, 14:10
1
Expert Reply
OE
Quote:
Let x = the amount invested at 8%, and 10000 – x = the amount invested at 7%. Then,0.08𝑥 + 0.07(10000 − 𝑥) = 720
Multiply the whole equation by 100 to get rid of the decimal:8𝑥 + 7(10000 − 𝑥) = 720008x + 70000 – 7x = 72000 x = 2000
Multiply the whole equation by 100 to get rid of the decimal:8𝑥 + 7(10000 − 𝑥) = 720008x + 70000 – 7x = 72000 x = 2000
gmatclubot
Re: An investor divides $10,000 into two investments, one paying 7% and o [#permalink]
27 Jul 2022, 14:10
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