Question 855706: A woman has a certain amount of money invested at a particular rate of interest. If she had $2000 more invested at a rate 2 percent lower, she would receive the same annual interest. If she had $2000 less invested at a rate 3 percent higher, she would receive the same annual interest. How much does she have invested and at what rate?
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! A woman has a certain amount of money invested at a particular rate of interest. If she had $2000 more invested at a rate 2 percent lower, she would receive the same annual interest. If she had $2000 less invested at a rate 3 percent higher, she would receive the same annual interest. How much does she have invested and at what rate?
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let x=amount invested at some interest rate
(x+2000)(2%)=(x-2000)(3%)
.02x+40=.03x-60
.01x=100
x=10000
interest=.02x+40=240
interest rate=240/10000=2.4%
amount invested=$10,000
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