Question

Mr Chen deposits a certain amount of money in a bank. If the interest rate of bank decreases from 3.75 per year to 3.5 per year, Mr Chen's interest will decrease by $50 in a year. Find the sum of money he deposits.

Guys I want good answer....

Answer 1

Since 0.25 is $50 take $50 and divide it by 0.25 then take the answer ($200) and divide it by 3.5 then times 100 you should get $5714.28 that's the final answer