SOLUTION: A bank lends one person $8727 at 3% interest, and another person $3273 at x% interest. If the interest amounts are the same, what was the rate of interest, to the nearest percent,

Algebra ->  Finance -> SOLUTION: A bank lends one person $8727 at 3% interest, and another person $3273 at x% interest. If the interest amounts are the same, what was the rate of interest, to the nearest percent,       Log On


   



Question 1205415: A bank lends one person $8727 at 3% interest, and another person $3273 at x% interest. If the interest amounts are the same, what was the rate of interest, to the nearest percent, on the loan of $3273?
Answer by math_tutor2020(3817) About Me  (Show Source):
You can put this solution on YOUR website!

Hint:
8727*(3/100) = 3273*(x/100)

The 3/100 represents the 3% interest rate
The x/100 represents the x% interest rate