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An investment of d dollars at k percent simple annual

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An investment of d dollars at k percent simple annual [#permalink] New post 22 Aug 2006, 11:08
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An investment of d dollars at k percent simple annual interst yields $600 dollars interest over a 2-year period. in terms of d, whta dollar amount invested at the same time will yield $2400 interst over a 3-year period?

a. 2d/3
b. 3d/4
c. 4d/3
d. 3d/2
r. 8d/3
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 [#permalink] New post 22 Aug 2006, 11:18
is it (e) 8d/3 ?

SI formula is PRT/100 where
P - principal
R - annual rate (%age)
T - time in years

From given, 600 = d*k*2/100 => k = 600*100/(2*d)

New interest is 2400 and new time is 3 yrs. Rate remains same (k)

Let new principle be x
2400 = x*k*3/100
Substituting k in terms of d, we get
x=8d/3.
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 [#permalink] New post 22 Aug 2006, 12:31
It is E 8d/3

since it is $600 for 2 years at simple interest, per year you get $300
and for $2400 for 3 years you need $800 per year

Hence
k/100 * d gives you $300
x gives you $800

cross-multiplying

x = 800/300 * kd/100
x = 8d/3 *(k/100)

Hence the new dollar amount must be 8d/3 (since k is the same)
  [#permalink] 22 Aug 2006, 12:31
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