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Math Expert V
Joined: 02 Sep 2009
Posts: 61283
If $120 invested at a certain rate of simple interest amounts to$140  [#permalink]

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Difficulty:   35% (medium)

Question Stats: 73% (02:08) correct 27% (01:56) wrong based on 44 sessions

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If $120 invested at a certain rate of simple interest amounts to$140 at the end of 3 years, how much will $150 amount to at the same rate of interest in 6 years? A.$180
B. $190 C.$200
D. $210 E.$240

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Joined: 17 Jan 2017
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If $120 invested at a certain rate of simple interest amounts to$140  [#permalink]

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1
Bunuel wrote:
If $120 invested at a certain rate of simple interest amounts to$140 at the end of 3 years, how much will $150 amount to at the same rate of interest in 6 years? A.$180
B. $190 C.$200
D. $210 E.$240

Given:
A1 = 140
P1 = 120
T1 = 3yrs
Interest earned = 140-120 = 20

S.I = (PTR)/100
20 = (120*3*R)/100
R = 5.5%

P2 = 150
T2 = 6yrs
R = 5.5%
S.I = (PTR)/100
= (150*6*5.5)/100
=50
Amount = P+SI = 150+50 = 200

Hence C
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Re: If $120 invested at a certain rate of simple interest amounts to$140  [#permalink]

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Simple interest = PRT/100
Here, 20 = (120*R*3)/100
Therefore, R = 200/(12*3)

Again, SI = [150*6*200/(12*3)]100
= 50

Amount = 200

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Math Expert V
Joined: 02 Aug 2009
Posts: 8261
Re: If $120 invested at a certain rate of simple interest amounts to$140  [#permalink]

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Bunuel wrote:
If $120 invested at a certain rate of simple interest amounts to$140 at the end of 3 years, how much will $150 amount to at the same rate of interest in 6 years? A.$180
B. $190 C.$200
D. $210 E.$240

$$SI=\frac{PRT}{100}$$...
SI is simple interest in $P is principal in$
R is rate of interest in %
T is time in years
$$140-120=\frac{120*R*3}{100}..........R=\frac{20*100}{120*3}=\frac{50}{9}$$...
now for the second case
$$SI=\frac{PRT}{100}=\frac{150*50*6}{100*9}=5*5*2=50$$...
so amount at the end of six years = 150+50=200

C
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Re: If $120 invested at a certain rate of simple interest amounts to$140  [#permalink]

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OA:C

For Simple Interest
Interest = P(Principal)*r(Rate)*t(Time)
$$140-120 =120*r*3$$
$$r= \frac{20}{360}$$

When Principal = $$150$$ Dollar, Same Rate and Time = $$6$$ years
Interest $$= 150 *\frac{20}{360} * 6 = 50$$

Final amount after $$6$$ years $$= 150+ 50 = 200 Dollars$$
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Re: If $120 invested at a certain rate of simple interest amounts to$140  [#permalink]

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_________________ Re: If $120 invested at a certain rate of simple interest amounts to$140   [#permalink] 10 Jan 2020, 03:08
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