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09 Jul 2012, 03:46
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If $5,000 invested for one year at p percent simple annual interest yields$500, what amount must be invested at k percent simple annual interest for one year to yield the same number of dollars?

Simple interest = Principal * Interest rate * Time, so we have that $$500=5,000*\frac{p}{100}*1$$, which gives $$p=10%$$

(1) k = 0.8p --> $$k=8%$$ --> $$500=Principal *\frac{8}{100}*1$$. Sufficient to calculate Principal.
(2) k = 8. $$500=Principal *\frac{8}{100}*1$$. Sufficient to calculate Principal.

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11 Jul 2012, 10:39
Is this really a question of DS... I mean in any case we will be having a value of the Principal amount such that it yields the same Rate of Interest......Please correct me if I am wrong.
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11 Jul 2012, 11:02
sanjoo wrote:
without any doubt..its D.....

we can find p.. we multiply p by .8 and we can 8.. the same information is given in b..

But my point is that either ways we will be getting a value...using any of the two statements.... just doesn't seem to fit in like a classic DS question. Whatever the figures given this question will always be solvable..... with either of the two statements given....
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13 Jul 2012, 02:36
SOLUTION

If $5,000 invested for one year at p percent simple annual interest yields$500, what amount must be invested at k percent simple annual interest for one year to yield the same number of dollars?

Simple interest = Principal * Interest rate * Time, so we have that $$500=5,000*\frac{p}{100}*1$$, which gives $$p=10%$$

(1) k = 0.8p --> $$k=8%$$ --> $$500=Principal *\frac{8}{100}*1$$. Sufficient to calculate Principal.
(2) k = 8. $$500=Principal *\frac{8}{100}*1$$. Sufficient to calculate Principal.

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Re: If $5,000 invested for one year at p percent simple annual [#permalink] ### Show Tags 23 Feb 2015, 18:42 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: If$5,000 invested for one year at p percent simple annual   [#permalink] 23 Feb 2015, 18:42
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