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# an investement of d dollars a k percent simple annual

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Intern
Joined: 03 Apr 2006
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an investement of d dollars a k percent simple annual [#permalink]

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11 Jun 2007, 14:22
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

an investement of d dollars a k percent simple annual interest yeilds $600 over a 2 year period. in terms of d, what dollar amount invested at the same rate will yeild$2,400 interest over a 3 year period.

2d/3

3d/4

4d/3

3d/2

8d/3

answer E (highlight to check, its in white)
Manager
Joined: 22 May 2007
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11 Jun 2007, 14:33
d will make us 300 in 1 year or 900 in 3 years.

in order to make 2400 in 3 ys -->> 2400d/900 = 8d/3
Intern
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11 Jun 2007, 14:37
Manager
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11 Jun 2007, 14:50
Since amount d is earning us simple interest, we can always find out hom much we can earn in 1, 2 3 etc years.

Ex $100 principal earns us 3% simple interest per yr. In 1 year we make 3 bucks In 2 years we make 6, in 3 years 9 etc. In our case, we know that we make 600 in 2 years, so in 1 year we make 300, 900 in 3 years etc. So, if d earns us 900 in 3 years, how much do we need in order to earn 2400 in 3 years? d --- 900 x --- 2400 2400d/900 should do it Intern Joined: 03 Apr 2006 Posts: 46 Followers: 0 Kudos [?]: 25 [0], given: 0 ### Show Tags 11 Jun 2007, 14:58 dont we have to consider it?? or assign a # to it? Manager Joined: 22 May 2007 Posts: 121 Followers: 1 Kudos [?]: 5 [0], given: 0 ### Show Tags 11 Jun 2007, 15:04 No at all. All we wanna know is how much more cash we need. There are plenty of ways to solve this. If I got this on the actual exam, I would figure out how much$ will d earn us in 3 years. We know it is 900.
Then I would just plug it in the possible answers to get 2400.
11 Jun 2007, 15:04
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