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Tom invested part of $8,000 at 3 percent and the rest at 5 percent a
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12 Feb 2021, 06:26
12 Feb 2021, 06:26
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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
