# SOLUTION: A man deposited \$2000 in a savings bank paying him a certain interest. At the end of the year he withdraw \$150. At the end of the second year the amount dew to him was \$1947.50. Wh

Algebra ->  Algebra  -> Quadratic Equations and Parabolas -> SOLUTION: A man deposited \$2000 in a savings bank paying him a certain interest. At the end of the year he withdraw \$150. At the end of the second year the amount dew to him was \$1947.50. Wh      Log On

 Ad: You enter your algebra equation or inequality - Algebrator solves it step-by-step while providing clear explanations. Free on-line demo . Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help! Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!

 Quadratics: solvers Practice! Answers archive Lessons Word Problems In Depth

 Question 353827: A man deposited \$2000 in a savings bank paying him a certain interest. At the end of the year he withdraw \$150. At the end of the second year the amount dew to him was \$1947.50. What was the rate of interest?Answer by mananth(12270)   (Show Source): You can put this solution on YOUR website!\$ 2000 in savings bank Let x% be the interest. .. interest obtained = 20x. he withdrew \$150 Balance in account after 1 year = 2000-150+20x = 1850+20x ... Interest for second year = 0.01x(1850+20x)+1850+20x = 1947.50 18.50x+0.2x^2+1850+20x=1947.50 0.2x^2+38.50x=1947.50-1850 0.2x^2+38.5x=97.5 multiply by 10 2x^2+385x-975 =0 discriminant = 156025 solve by quadratic formula x1= 2.5% x2= -195 ignore negative value .... m.ananth@hotmail.ca