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Jake invests $5000 at 10% simple annual interest and another amount of money at x percent simple interest. What amount of money did Jake invests at x percent interest?
(1) The total amount of interest earned on all investments at the end of one year is $800.
(2) x = 6%.
- a)Statements (1) and (2) TOGETHER are not sufficient.
- b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.
- c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
- d)Each Statement ALONE is sufficient.
- e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Jake invests $5000 at 10% simple annual interest and another amount of...
(1) The total amount of interest earned on all investments at the end of one year is $800.
Let A be the amount of money invested at x percent. The total interest earned on both investments is:
We cannot calculate A because x is also unknown. Statement (1) Alone is not sufficient then.
(2) x = 6%
Statement (2) Alone is not sufficient.
Combining both statements, we have:
Both Statements together are sufficient but neither statement alone is sufficient.
Both Statements together are sufficient but neither statement alone is sufficient.
Most Upvoted Answer
Jake invests $5000 at 10% simple annual interest and another amount of...
Understanding the Problem
Jake invests $5000 at a 10% simple annual interest rate, and another unknown amount at x% interest. We need to determine the amount invested at x% given the total interest earned after one year is $800.
Analyzing Statement (1)
- The total interest earned from both investments is $800.
- Interest from the first investment:
Interest = Principal × Rate = $5000 × 10% = $500.
- Therefore, the interest from the second investment can be calculated:
Interest from second investment = Total Interest - Interest from first investment
$800 - $500 = $300.
- Let the amount invested at x% be represented as y.
Using the formula for simple interest:
$300 = y × (x/100).
- This equation alone does not allow us to find y without knowing the value of x. Thus, Statement (1) alone is insufficient.
Analyzing Statement (2)
- This statement directly provides x = 6%.
- Now, we can substitute x into the equation derived from Statement (1):
$300 = y × (6/100)
$300 = 0.06y.
- Solving for y gives:
y = $300 / 0.06 = $5000.
- Thus, Statement (2) alone is sufficient to determine the amount invested at 6%.
Combining the Statements
- With both statements, we have confirmed the values of both x and the amount invested at x%.
- Therefore, both statements together are also sufficient, but Statement (2) alone is enough to find y.
Conclusion
The correct answer is option 'C': Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
Jake invests $5000 at a 10% simple annual interest rate, and another unknown amount at x% interest. We need to determine the amount invested at x% given the total interest earned after one year is $800.
Analyzing Statement (1)
- The total interest earned from both investments is $800.
- Interest from the first investment:
Interest = Principal × Rate = $5000 × 10% = $500.
- Therefore, the interest from the second investment can be calculated:
Interest from second investment = Total Interest - Interest from first investment
$800 - $500 = $300.
- Let the amount invested at x% be represented as y.
Using the formula for simple interest:
$300 = y × (x/100).
- This equation alone does not allow us to find y without knowing the value of x. Thus, Statement (1) alone is insufficient.
Analyzing Statement (2)
- This statement directly provides x = 6%.
- Now, we can substitute x into the equation derived from Statement (1):
$300 = y × (6/100)
$300 = 0.06y.
- Solving for y gives:
y = $300 / 0.06 = $5000.
- Thus, Statement (2) alone is sufficient to determine the amount invested at 6%.
Combining the Statements
- With both statements, we have confirmed the values of both x and the amount invested at x%.
- Therefore, both statements together are also sufficient, but Statement (2) alone is enough to find y.
Conclusion
The correct answer is option 'C': Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
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Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. 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 Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for GMAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. Can you explain this answer?.
Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. 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 Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for GMAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. Can you explain this answer?.
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Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Jake invests $5000 at 10% simple annual interest and another amount of money atxpercent simple interest. What amount of money did Jake invests atxpercent interest?(1) The total amount of interest earned on all investments at the end of one year is $800.(2)x = 6%.a)Statements (1) and (2) TOGETHER are not sufficient.b)Statement (1) ALONE is sufficient, but Statement (2) ALONE is not sufficient.c)Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.d)Each Statement ALONE is sufficient.e)Statement (2) ALONE is sufficient, but Statement (1) ALONE is not sufficient.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice GMAT tests.
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