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word problem

by sud21 » Sat Jan 21, 2012 9:29 pm
Somebody invested $17,000 at x% simple annual interest rate and earned Z dollor interest at the end of a year. How much should he invest in an account, which has y% simple annual interest rate, so that he can earn the same interest at the same time?
1) X=2
2) Y=50%X
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Source: — Data Sufficiency |
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by neelgandham » Sun Jan 22, 2012 10:54 am
Somebody invested $17,000 at x% simple annual interest rate and earned Z dollor interest at the end of a year. How much should he invest in an account, which has y% simple annual interest rate, so that he can earn the same interest at the same time?

Simple Interest = (P*T*R)/100, where
P = Principal amount
T = Time in years
R = Rate of Interest
Simple interest in first case = Z = 17000*X*1/100
Simple interest in second case = Z = K*Y*1/100, where K is amount invested.
So, 17000*X*1/100 = K*Y*1/100
K = 17000*X/Y

So, the question can be rephrased as, If K = 17000*X/Y, what is the value of K ?
1) X=2
K = 17000*X/Y = 34000/Y. Insufficient to answer the question as the value of y is not provided.
2) Y=50%X
Y =(50/100)X, implies X =2Y and X/Y =2
K = 17000*X/Y = 17000*2 = 34000. Sufficient to answer the question

IMO B
Anil Gandham
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