An investment of y dollars at p percent simple interest yiel : GMAT Problem Solving (PS)
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# An investment of y dollars at p percent simple interest yiel

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Joined: 28 May 2009
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Concentration: Strategy, General Management
GMAT Date: 03-22-2013
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An investment of y dollars at p percent simple interest yiel [#permalink]

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05 Feb 2013, 15:54
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25% (medium)

Question Stats:

77% (02:41) correct 23% (01:55) wrong based on 124 sessions

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 _________________ Veritas Prep GMAT Instructor Joined: 16 Oct 2010 Posts: 7187 Location: Pune, India Followers: 2169 Kudos [?]: 14025 [0], given: 222 Re: An investment of y dollars at p percent simple interest [#permalink] ### Show Tags 05 Feb 2013, 20:59 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 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]

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05 Feb 2013, 23:51
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 _________________ GMAT Club Legend Joined: 09 Sep 2013 Posts: 13957 Followers: 590 Kudos [?]: 167 [0], given: 0 Re: An investment of y dollars at p percent simple interest yiel [#permalink] ### Show Tags 19 Apr 2015, 04:23 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: An investment of y dollars at p percent simple interest yiel [#permalink] 19 Apr 2015, 04:23 Similar topics Replies Last post Similar Topics: Pat invested x dollars in a fund that paid 8 percent annual interest, 1 20 Jan 2017, 06:08 Someone invested x dollars at simple annual interest, and the investme 3 26 Aug 2011, 23:07 69 An investment of d dollars at k percent simple annual 14 10 Dec 2010, 10:16 9 An investment of d dollars at k percent simple annual interest yields 12 04 May 2010, 02:24 34 If$10,000 is invested at x percent simple annual interest 19 23 Jun 2008, 09:38
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