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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, 15:54
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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 Manhattan GMAT Discount Codes Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 5584 Location: Pune, India Followers: 1381 Kudos [?]: 7041 [0], given: 182 Re: An investment of y dollars at p percent simple interest [#permalink] 05 Feb 2013, 20:59 Expert's post 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

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Re: An investment of y dollars at p percent simple interest yiel [#permalink]  05 Feb 2013, 23:51
Expert's post
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]  19 Apr 2015, 04:23
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Re: An investment of y dollars at p percent simple interest yiel   [#permalink] 19 Apr 2015, 04:23
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