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
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Tom invested part of $8,000 at 3 percent and the rest at 5 percent a
[#permalink]
12 Feb 2021, 06:26
12 Feb 2021, 06:26
Expert Reply
3
Bookmarks
00:00
Question Stats:
71% (01:29) correct
28% (01:28) wrong based on 32 sessions
Hide Show timer Statistics
Tom invested part of $8,000 at 3 percent and the rest at 5 percent annual interest for a total return of $340.
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Kudos for the right answer and explanation
Quantity A |
Quantity B |
The amount invested at 3% |
The amount invested at 5% |
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Kudos for the right answer and explanation
Tom invested part of $8,000 at 3 percent and the rest at 5 percent a
[#permalink]
12 Feb 2021, 08:26
12 Feb 2021, 08:26
3
Total $8000
Let's say $x is invested at 3% & $(8000-x) is invested at 5%
Interest = 340 = \(\frac{x * 3 * 1}{100}\) + \(\frac{(8000-x) * 5 * 1}{100}\)
340 = \(\frac{3x}{100}\) + \(\frac{40000 - 5x}{100}\)
340 = 400 - \(\frac{2x}{100}\)
2x = 6000
\(x = 3000\)
Qt A = 3000
Qt B = 5000
Qt B > Qt A
Answer B
Let's say $x is invested at 3% & $(8000-x) is invested at 5%
Interest = 340 = \(\frac{x * 3 * 1}{100}\) + \(\frac{(8000-x) * 5 * 1}{100}\)
340 = \(\frac{3x}{100}\) + \(\frac{40000 - 5x}{100}\)
340 = 400 - \(\frac{2x}{100}\)
2x = 6000
\(x = 3000\)
Qt A = 3000
Qt B = 5000
Qt B > Qt A
Answer B
Re: Tom invested part of $8,000 at 3 percent and the rest at 5 percent a
[#permalink]
12 Feb 2021, 20:11
12 Feb 2021, 20:11
1
x + y = 8000
3/100x +5/100y = 340
Solve for x & y
x = 3000; y = 5000
3/100x +5/100y = 340
Solve for x & y
x = 3000; y = 5000
