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by mariah » Fri Jan 23, 2009 1:29 pm
23.Somebody invested 17,000, at x% simply annual rate and earned Z dollars interest at the end of one year. What should he invest in an account, which has y% annual interest rate so that he can get the same amount of interest in the same time?
1).X=2 B
2).Y=50%X

dont have oa , but its real gmat question


my answer b
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by DanaJ » Fri Jan 23, 2009 1:58 pm
Simple interest means that Z = x%*17000 = y%*A (where A = requested amount). You need to find A, which will be x%*17000/y%. Since x and y are both percentages, then this last equation is equivalent to A = X*17000/Y. Any relationship between X and Y will therefore suffice to find A.

That means that statement 2 by itself is sufficient, since A will be 2Y*17000/Y = 2*17000=34000.
Statement 1 by itself is not enough, since we do not know anything about the relationship between X and Y from X = 2B. That means that answer is B...
Unless you did not copy the equation correctly and it is actually X = 2Y, which is equivalent to stmt 2.
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