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

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An investment of y dollars at p percent simple interest yiel [#permalink]  05 Feb 2013, 16:54
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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 _________________  Kaplan Promo Code Knewton GMAT Discount Codes GMAT Pill GMAT Discount Codes Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 3111 Location: Pune, India Followers: 571 Kudos [?]: 2009 [0], given: 92 Re: An investment of y dollars at p percent simple interest [#permalink] 05 Feb 2013, 21:59 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 Save 10% on Veritas Prep GMAT Courses And Admissions Consulting Enroll now. Pay later. Take advantage of Veritas Prep's flexible payment plan options. Veritas Prep Reviews GMAT Club team member Joined: 02 Sep 2009 Posts: 11565 Followers: 1796 Kudos [?]: 9571 [0], given: 826 Re: An investment of y dollars at p percent simple interest yiel [#permalink] 06 Feb 2013, 00:51 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
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Re: An investment of y dollars at p percent simple interest yiel   [#permalink] 06 Feb 2013, 00:51
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