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# In 2001, John invests x dollars in a special account that yi

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Manager
Joined: 20 May 2014
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In 2001, John invests x dollars in a special account that yi [#permalink]  12 Oct 2017, 20:45
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In 2001, John invests x dollars in a special account that yields y% simple interest annually. If he has \$250 in his account in 2006 and in 2008 he has \$270 in his account, what is x + y?

(A) 5

(B) 25

(C) 200

(D) 205

(E) 210

Kudos for correct solution.
[Reveal] Spoiler: OA
Intern
Joined: 12 Oct 2017
Posts: 23
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Re: In 2001, John invests x dollars in a special account that yi [#permalink]  13 Oct 2017, 05:29
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250 = x(1+5y)
270 = x(1+7y)

Subtract the 2nd equation from first
xy = 10
put it in equation 1 so x = 200 and y = 1/20 = 5%

x+y = 205
Manager
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Re: In 2001, John invests x dollars in a special account that yi [#permalink]  13 Oct 2017, 07:20
1
KUDOS
Bunuel wrote:
In 2001, John invests x dollars in a special account that yields y% simple interest annually. If he has \$250 in his account in 2006 and in 2008 he has \$270 in his account, what is x + y?

(A) 5

(B) 25

(C) 200

(D) 205

(E) 210

Kudos for correct solution.

In 2006 total amount in the account = \$250

In 2008 total amount in the account = \$270

I.e there is a \$20 rise in 2 years, so in each year there is a rise of = \$10, which is the simple interest

Therefore from 2001 to 2006 there is rise of \$50

so we can conclude that in 2001 the account had \$200 which is equal to x

and since SI = p*r*t therefore

10 = 200 *y% *1 (in 2001)

or y= 5

therefore x+y =205
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Re: In 2001, John invests x dollars in a special account that yi   [#permalink] 13 Oct 2017, 07:20
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