SOLUTION: an investment of $1500 paid interest of $45 during a certain period. How much interest would an investment of $2000 invested at the same rate for the same length of time pay?

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Question 429152: an investment of $1500 paid interest of $45 during a certain period. How much interest would an investment of $2000 invested at the same rate for the same length of time pay?

I tried $1500 x n=$45.....thinking i could divide both sides by 45 to get the percent of interest but that didn't work. Could you please explain how to find the interest rate I think I can figure it out if i have that
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!


Hi

investment of $1500 paid interest of $45 during a certain period

Let x represent interest on an investment of $2000 invested similarly

Question sets Up the Proportion***

  45%2F1500+=+x%2F2000     | Cross Multiplying 

  1500x = 45*2000

      x = 45*2000/1500

      x = $60, interest on an investment of $2000 invested similarly



CHECKING our Answer***

  45/1500 = 60/2000 = 3/100