Question 1079272
Mr chen deposit a certain sum of money in a bank in the interest rate of the bank decreases from 3.75% per annum to 3.5% per annum. Mr chen's interest will decrease by $50 in a year. find the sum of money he deposites

Mr chen deposit a certain sum of money in a bank  let it be x
 interest


At 3.75% rate he gets 3.75%x

At 3.50% rate he gets 3.50%x

3.75%x-3.50%x =50

0.0375x-0.0350x =50
0.025x=50
x=50/0.025

x=2000

sum of money in a bank deposited = $2000