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A certain amount is invested for three years at $x \%$ rate of interes
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08 Apr 2025, 09:56
08 Apr 2025, 09:56
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A certain amount is invested for three years at $\(x \%\)$ rate of interest. The amount at the end of $\(2^{\text {nd }}\)$ and $\(3^{\text {rd }}\)$ year is $\(\$ 900\)$ and $\(\$ 1050\)$, respectively. What is the initial amount?
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$ 600
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Re: A certain amount is invested for three years at $x \%$ rate of interes
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12 Apr 2025, 04:00
12 Apr 2025, 04:00
Expert Reply
It is given that 2 years' amount $\(\left(\mathrm{A}_2\right)\)$ is $\(\$ 900\)$ and 3 years' amount $\(\left(\mathrm{A}_3\right)\)$ is $\(\$ 1050\)$. This implies that 1 year's simple interest $\((\mathrm{SI})=\mathrm{A}_3-\mathrm{A}_2=\$ 150\)$.
$\(\therefore\)$ Principal (Initial amount) $\(=A_2-(2$ years' SI $)=900-300=\$ 600\)$.
Thus, the correct answer is $\(\$ 600\)$.
$\(\therefore\)$ Principal (Initial amount) $\(=A_2-(2$ years' SI $)=900-300=\$ 600\)$.
Thus, the correct answer is $\(\$ 600\)$.
gmatclubot
Re: A certain amount is invested for three years at $x \%$ rate of interes [#permalink]
12 Apr 2025, 04:00
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