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GRE Math Challenge #27-A part of $10,000 inheritance
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Updated on: 17 Feb 2020, 11:50
Updated on: 17 Feb 2020, 11:50
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Question Stats:
75% (01:37) correct
24% (01:23) wrong based on 49 sessions
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A part of $10,000 inheritance was invested at 4% and the remainder was invested at 6%. The total simple annual interest earned on the $10,000 at the end of the year was $520.
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.
Quantity A |
Quantity B |
The amount invested at 4% |
The amount invested at 6% |
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.
Re: GRE Math Challenge #27-A part of $10,000 inheritance
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08 Mar 2018, 01:24
08 Mar 2018, 01:24
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sandy wrote:
A part of $10,000 inheritance was invested at 4% and the remainder was invested at 6%. The total simple annual interest earned on the $10,000 at the end of the year was $520.
Column A: amount invested at 4%
Column B: amount invested at 6%
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.
Column A: amount invested at 4%
Column B: amount invested at 6%
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.
Let's set the amount invested with 4% is x; the one with 6% is y.
x+y=10,000------------> 2x+2y=20,000(1)
0.04x+0.06y=520 -----> 2x+3y=26,000 (2)
(2)-(1) y=6,000
x=4,000
So, B>A
Re: GRE Math Challenge #27-A part of $10,000 inheritance
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08 Mar 2018, 06:02
08 Mar 2018, 06:02
Amount invested at 4% = 10000 x .01 x 4 = $400
Amount invested at 6% = 10000 - 400 = 9600 x .01 x 6 = $576
Thus the remainder of $10k at 6% after the 4% investment is greater. A < B
Amount invested at 6% = 10000 - 400 = 9600 x .01 x 6 = $576
Thus the remainder of $10k at 6% after the 4% investment is greater. A < B
