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Percents and Interest Problems, Word Problems

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by swerve » Wed Jul 29, 2020 5:38 pm
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A certain investment earns 20 percent interest annually. if the investment has earned $30 after one year, what was its original value?

A. $100
B. $120
C. $150
D. $175
E. $180

The OA is C


Source: Princeton Review
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Re: Percents and Interest Problems, Word Problems

by deloitte247 » Fri Jul 31, 2020 12:51 am
Let the certain investment = x
x earns 20% annually to give $30
Therefore, 20% of x = 30
$$\frac{20}{100}\cdot x=30$$
$$x=\frac{30\cdot100}{20}=$150$$

Answer = option C
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Re: Percents and Interest Problems, Word Problems

by Scott@TargetTestPrep » Sat Aug 01, 2020 6:32 am
swerve wrote: ↑
Wed Jul 29, 2020 5:38 pm
 A certain investment earns 20 percent interest annually. if the investment has earned $30 after one year, what was its original value?

A. $100
B. $120
C. $150
D. $175
E. $180

The OA is C


Solution:

Since principal x rate = interest, We can create the equation where p is the original value of the investment:

p * 0.2 = 30

p = 30/0.2 = 300/2 = 150

Answer: C

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