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An investment of d dollars at k percent simple annual

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Re: An investment of d dollars at k percent simple annual  [#permalink]

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New post 04 Jun 2018, 19:41
I tried back solving,

as the interest has to be for 3 years, the denominator has to be "3". Eliminate option "B" and "D".
for the answer to be "2400" in 3 years, the multiple has to be "8". so E
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An investment of d dollars at k percent simple annual  [#permalink]

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New post 15 Oct 2018, 11:16
Hi Lincoln1608

A simple way to solve this is to pick numbers.

Let d = 3,000

k = 10%

in 1 year we get \(3,000 * \frac{10}{100} = 300\)

so in 2 years it will be 600 which satisfies the question stem.

Now we want the investment to yield a total of 2,400 in 3 years. The interest per year is 10% so in 3 years it will be 30%

\(3,000 * x * \frac{30}{100} = 2,400\)

\(3 * x * \frac{3}{1} = 24\)

\(x = \frac{8}{3}\)

Answer choice E
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New post 04 Dec 2018, 11:11
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Re: An investment of d dollars at k percent simple annual  [#permalink]

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New post 20 Sep 2019, 11:48
Bunuel Yields means only Interest earned or Principal + Interest . Please clarify
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Re: An investment of d dollars at k percent simple annual   [#permalink] 20 Sep 2019, 11:48

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