Determine the Constant of Variation for the Stated Condition

Multiple Choice

Determine the constant of variation for the stated condition.
-The amount of simple interest earned on an investment over a fixed amount of time is jointly proportional to the principle invested and the interest rate. A principle investment of $2000.00 with an interest rate of 1% earned $100.00 in simple interest. Find the amount of simple interest earned if the principle is $3500.00 and the interest rate is 8%.

A) $1400.00
B) $140,000.00
C) $175.00
D) $800.00