<PRE><B>Question 279627</B>
The amount of annual interest earned by $8,000 invested at a certain rate is $200 less than 12,000 would earn at a 1% lower rate. At what rate is the $8,000 invested?

let the rate invested  be x

The interest earned = 8000*x/100

12000 is invested at (x-1)%

(x-1)/100*12000 -200 = 8000x/100

(x-1)*120-200 =80x

120x-120-200=80x

40x=320

x= 8%

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