Tuesday, March 30, 2010

GMAT Question of the Day

A student invests 4000, part at 6% and part at 7%. The income from these investments in 1 year is 250. Find the amount invested at 7%.


Solution:

Let I1 be the interest in first case and I2 be interest in second case.

250 = I1 + I2

Let x be the amount invested for 7%.

250 = (4000-x)*6 / 100 + x*7/100

x = 1000.

So the amount invested in 7% is 1000