3 years ago

If A = 1, what will Z = ? A: 1 B:0

Mathematics

1 answer:

lord [1]3 years ago

5 0

i dunooo

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What is the interest rate of each investment if The annual interest on a $17,000 investment exceeds the interest earned on an $8

Butoxors [25]

<u>Solution-</u>

Let's assume, the rate of interest of $8000 is x%,

then the rate of interest of $17000 is (x+0.3x) =1.3x%

Interest earned by $8000,

$i_1=\frac{8000\times x\times 1}{100} =80x$

Interest earned by $17,000,

$i_2=\frac{17000\times 1.3x\times 1}{100} =221x$

According to the question,

$\Rightarrow i_1=i_2+276$

$\Rightarrow 221x=80x+276$

$\Rightarrow 221x-80x=276$

$\Rightarrow 141x=276$

$\Rightarrow x=1.96$

∴ Rate of interest of $8000 is 1.96% and rate of interest of $17000 is (1.3×1.96) =2.55%

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