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

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In 2001, John invests x dollars in a special account that yi [#permalink] New post 12 Oct 2017, 20:45
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50% (08:46) correct 50% (01:18) wrong based on 2 sessions
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



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[Reveal] Spoiler: OA
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Re: In 2001, John invests x dollars in a special account that yi [#permalink] New post 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
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Re: In 2001, John invests x dollars in a special account that yi [#permalink] New post 13 Oct 2017, 07:20
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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] New post 07 Mar 2019, 07:01
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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.


Since he has $250 in his account in 2006 and $270 in 2008, it must be true that the amount of interest is $20 during these two years. Since it’s simple interest, it must mean that the amount of interest is $10 per year.

Therefore, in 2006, 5 years since 2001, the account must have accrued $50 in interest, which means the amount in 2001 is $200. So x = 200. Since 10/200 = 5/100 = 5%, y = 5. Therefore, x + y = 205.

Answer: D
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Re: In 2001, John invests x dollars in a special account that yi   [#permalink] 07 Mar 2019, 07:01
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