Last visit was: 25 May 2024, 10:13 It is currently 25 May 2024, 10:13

Close

GRE Prep Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GRE score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel
GRE Prep Club Team Member
Joined: 20 Feb 2017
Posts: 2507
Own Kudos [?]: 3302 [0]
Given Kudos: 1051
GPA: 3.39
Send PM
Manager
Manager
Joined: 02 Sep 2021
Posts: 188
Own Kudos [?]: 182 [0]
Given Kudos: 13
GPA: 3.5
WE:Design (Other)
Send PM
Verbal Expert
Joined: 18 Apr 2015
Posts: 28812
Own Kudos [?]: 33400 [0]
Given Kudos: 25278
Send PM
Verbal Expert
Joined: 18 Apr 2015
Posts: 28812
Own Kudos [?]: 33400 [0]
Given Kudos: 25278
Send PM
Re: If x dollars is invested at 10 percent for one year and y dollars is [#permalink]
Expert Reply
eskay1981 wrote:
GeminiHeat wrote:
If x dollars is invested at 10 percent for one year and y dollars is invested at 8 percent for one year, the annual income from the 10 percent investment will exceed the annual income from the 8 percent investment by $56. If $2,000 is the total amount invested, how much is invested at 8 percent?

(A) $280

(B) $800

(C) $892

(D) $1,108

(E) $1,200


I believe there is a mistake in the question. It should be " the annual interest from the 10 percent investment will exceed the annual interest from the 8 percent investment by $56".

After this correction, the equations that will end up are x + y =2000 and 0.1x - 0.08y = 56 and solving for y will give 800.

Else as per the original statement, the equations will be x + y =2000 and 1.1x - 1.08y = 56 and none of the choices is the correct.


No sir

it is correct. It is from the official GMAT questions
Prep Club for GRE Bot
[#permalink]
Moderators:
Moderator
1085 posts
GRE Instructor
218 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne