Author Message
TAGS:

### Hide Tags

Math Expert
Joined: 02 Sep 2009
Posts: 37114
Followers: 7255

Kudos [?]: 96645 [1] , given: 10770

### Show Tags

09 Jul 2012, 03:46
1
KUDOS
Expert's post
2
This post was
BOOKMARKED
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.

_________________
Joined: 28 Mar 2012
Posts: 321
Location: India
GMAT 1: 640 Q50 V26
GMAT 2: 660 Q50 V28
GMAT 3: 730 Q50 V38
Followers: 29

Kudos [?]: 406 [0], given: 23

### Show Tags

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.
Senior Manager
Joined: 06 Aug 2011
Posts: 405
Followers: 2

Kudos [?]: 197 [0], given: 82

### Show Tags

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....
Intern
Joined: 12 Jul 2012
Posts: 22
Followers: 0

Kudos [?]: 0 [0], given: 0

### Show Tags

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.

_________________
GMAT Club Legend
Joined: 09 Sep 2013
Posts: 13971
Followers: 591

Kudos [?]: 167 [0], given: 0

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
Similar topics Replies Last post
Similar
Topics:
3 On January 1, 2003, Jack invested $5,000 at r percent interest ra 2 14 Jun 2016, 10:48 5 Saul invests an amount of dollars in investment A at i% simple annual 7 28 Apr 2015, 04:26 2 Jake invested x dollars for a simple annual interest rate of y percent 2 09 Dec 2014, 06:44 1 Pamela and Joe invested some money at annual simple interest 2 17 Oct 2012, 01:08 19 On a certain date, Hannah invested$5,000 at x percent 12 20 Aug 2012, 02:25
Display posts from previous: Sort by