If $5,000 invested for one year at p percent simple annual interest yields $500, what amount must be invested at k percent simple annual interest for one year to yield the same number of dollars?
1. k = 0.8p
2. k = 8
A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are not sufficient.
Correct Answer: D
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