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Alan invested $1,000 at r% simple annual interest and an unknown amount at 2r% simple annual interest. What amount did Alan invest at 2r% simple annual interest?
  1. The interest for 1 year is $100 for 1st investment and $200 for the 2nd investment.
  2. r = 10%
  • a)
    Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.
  • b)
    Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.
  • c)
    BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.
  • d)
    EACH statement ALONE is sufficient to answer the question asked.
  • e)
    Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Alan invested $1,000 at r% simple annual interest and an unknown amoun...
Solution:

We need to find the amount invested at 2r% simple annual interest.

Let the amount invested at 2r% simple annual interest be x.

Statement 1: The interest for 1 year is $100 for the 1st investment.

Using the formula for simple interest, we can write:

Simple interest = (Principal * Rate * Time)/100

For the first investment, we have:

1000 * 10 * 1/100 = $100

This means that the amount invested at r% simple annual interest is $1000.

Using the same formula for the second investment, we have:

x * 2r * 1/100 = $200

Simplifying, we get:

x = 10000/r

We can substitute the value of r from statement 1 and find the value of x.

Since we can find the value of x using statement 1 alone, statement 1 is sufficient to answer the question.

Statement 2: The interest for 1 year is $200 for the 2nd investment.

Using the formula for simple interest, we have:

x * 2r * 1/100 = $200

Simplifying, we get:

x = 10000/r

We can substitute the value of r from statement 2 and find the value of x.

Since we can find the value of x using statement 2 alone, statement 2 is sufficient to answer the question.

Therefore, the answer is (A) Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.
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Alan invested $1,000 at r% simple annual interest and an unknown amount at 2r% simple annual interest. What amount did Alan invest at 2r% simple annual interest? The interest for 1 year is $100 for 1st investment and $200 for the 2nd investment. r = 10%a)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'A'. Can you explain this answer?
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Alan invested $1,000 at r% simple annual interest and an unknown amount at 2r% simple annual interest. What amount did Alan invest at 2r% simple annual interest? The interest for 1 year is $100 for 1st investment and $200 for the 2nd investment. r = 10%a)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'A'. Can you explain this answer? for GMAT 2025 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about Alan invested $1,000 at r% simple annual interest and an unknown amount at 2r% simple annual interest. What amount did Alan invest at 2r% simple annual interest? The interest for 1 year is $100 for 1st investment and $200 for the 2nd investment. r = 10%a)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for GMAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Alan invested $1,000 at r% simple annual interest and an unknown amount at 2r% simple annual interest. What amount did Alan invest at 2r% simple annual interest? The interest for 1 year is $100 for 1st investment and $200 for the 2nd investment. r = 10%a)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'A'. Can you explain this answer?.
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