An investment of y dollars at p percent simple interest yiel : GMAT Problem Solving (PS)
Check GMAT Club App Tracker for the Latest School Decision Releases http://gmatclub.com/AppTrack

 It is currently 03 Dec 2016, 22:18

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# An investment of y dollars at p percent simple interest yiel

Author Message
TAGS:

### Hide Tags

Manager
Joined: 28 May 2009
Posts: 155
Location: United States
Concentration: Strategy, General Management
GMAT Date: 03-22-2013
GPA: 3.57
WE: Information Technology (Consulting)
Followers: 8

Kudos [?]: 191 [2] , given: 91

An investment of y dollars at p percent simple interest yiel [#permalink]

### Show Tags

05 Feb 2013, 15:54
2
KUDOS
00:00

Difficulty:

25% (medium)

Question Stats:

78% (02:41) correct 22% (01:59) wrong based on 122 sessions

An investment of y dollars at p percent simple interest yields $600 interest over a 3-year period. In terms of y, what dollar amount invested at the same rate will yield the same amount of interest over a 2-year period? (A) $$\frac{2}{3}y$$ (B) $$\frac{3}{4}y$$ (C) $$\frac{3}{2}y$$ (D) $$2y$$ (E) $$3y$$ Source: Gmat Hacks 1800 [Reveal] Spoiler: OA _________________ Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 7060 Location: Pune, India Followers: 2082 Kudos [?]: 13251 [0], given: 221 Re: An investment of y dollars at p percent simple interest [#permalink] ### Show Tags 05 Feb 2013, 20:59 megafan wrote: An investment of y dollars at p percent simple interest yields$600 interest over a 3-year period. In terms of y, what dollar amount invested at the same rate will yield the same amount of interest over a 2-year period?

(A) $$\frac{2}{3}y$$

(B) $$\frac{3}{4}y$$

(C) $$\frac{3}{2}y$$

(D) $$2y$$

(E) $$3y$$

Source: Gmat Hacks 1800

Let's start by assigning suitable values to some variables so that we can easily calculate the answer.

$600 simple interest earned in 3 yrs means$200 earned every year. So if dollar amount y = 1000, rate of interest p = 20%

We need $600 in 2 yrs i.e.$300 every year at 20% rate.

300 = 20% of Amount invested
Amount invested = $1500 i.e. (3/2)y Answer (C) _________________ Karishma Veritas Prep | GMAT Instructor My Blog Get started with Veritas Prep GMAT On Demand for$199

Veritas Prep Reviews

Math Expert
Joined: 02 Sep 2009
Posts: 35843
Followers: 6831

Kudos [?]: 89767 [0], given: 10381

Re: An investment of y dollars at p percent simple interest yiel [#permalink]

### Show Tags

05 Feb 2013, 23:51
megafan wrote:
An investment of y dollars at p percent simple interest yields $600 interest over a 3-year period. In terms of y, what dollar amount invested at the same rate will yield the same amount of interest over a 2-year period? (A) $$\frac{2}{3}y$$ (B) $$\frac{3}{4}y$$ (C) $$\frac{3}{2}y$$ (D) $$2y$$ (E) $$3y$$ Source: Gmat Hacks 1800 Another copied question from GMAT Hacks. Original question from GMAT Prep: Quote: An investment of d dollars at k percent simple annual interest yields$600 over a 2 year period. In terms of d, what dollar amount invested at the same rate will yield $2,4000 over a 3 year period? A. (2d)/3 B. (3d)/4 C. (4d)/3 D. (3d)/2 E. (8d)/3 Discussed here: an-investment-of-d-dollars-at-k-percent-simple-annual-106083.html _________________ GMAT Club Legend Joined: 09 Sep 2013 Posts: 12855 Followers: 559 Kudos [?]: 157 [0], given: 0 Re: An investment of y dollars at p percent simple interest yiel [#permalink] ### Show Tags 19 Apr 2015, 04:23 Hello from the GMAT Club BumpBot! Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos). Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________ Re: An investment of y dollars at p percent simple interest yiel [#permalink] 19 Apr 2015, 04:23 Similar topics Replies Last post Similar Topics: 12 Shaun invests a certain sum of money at 18.75% p.a. simple interest. 12 19 Aug 2015, 21:45 Someone invested x dollars at simple annual interest, and the investme 3 26 Aug 2011, 23:07 63 An investment of d dollars at k percent simple annual 13 10 Dec 2010, 10:16 9 An investment of d dollars at k percent simple annual interest yields 12 04 May 2010, 02:24 32 If$10,000 is invested at x percent simple annual interest 18 23 Jun 2008, 09:38
Display posts from previous: Sort by