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Re: Jack invested an amount P at 6% annual rate of simple interest. Natila [#permalink]
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Official Explanation

The comparison of the two interest rates will be as follows:

Jack: x = P * 6 percent * 5T = 30 * TP

Natila: y = 2P * 4 percent * 3T = 24 * TP

So x:y are in ratio 5:4.

The only two options that are in this ratio are $2500 and $2000.
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Re: Jack invested an amount P at 6% annual rate of simple interest. Natila [#permalink]
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­Jack: P - Simple interest - 6% annual - 5T years
=> total interest = \(P * \frac{6}{100} * 5T = P * T * \frac{30}{100}\)

Natila: 2P - Simple interest - 4% annual - 3T years
=> total interet = \(2P * \frac{4}{100} * 3T = P * T * \frac{24}{100}\)

\(\frac{Interest J }{ Interest N} = \frac{30}{24} = \frac{5}{4}\)

Interest J = x = 2500
Interest N = y = 2000




 ­
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Re: Jack invested an amount P at 6% annual rate of simple interest. Natila [#permalink]
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