An investment of y dollars at p percent simple interest yields $600 interest over a 3-year period. In terms of y, what dollar amount invested at the same rate will yield the same amount of interest over a 2-year period?	Choose one
A) 2/3 y	B) 3/4 y	C) 3/2 y	D) 2y	E) 3y
Let's start by assigning suitable values to some variables so that we can easily calculate the answer.   $600 simple interest earned in 3 yrs means $200 earned every year. So if dollar amount y = 1000, rate of interest p = 20%   We need $600 in 2 yrs i.e. $300 every year at 20% rate.   300 = 20% of Amount invested   Amount invested = $1500 i.e. (3/2)y   Answer (3/2 y)
<result>C</result>
An investment of y dollars at p percent simple interest yields $600 interest over a 3-year period. In terms of y, what dollar amount invested at the same rate will yield the same amount of interest over a 2-year period?