Investment Problem 30. An investment have interest rates that differs by 1%. An investment for a year at the lower rate earns 24,000 pesos. The same principal amount invested for a year at the higher rate earns 27,000 pesos. What is the lower interest rate? a. 7% C. 9% b. 8% d. 10%

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter10: Systems Of Equations And Inequalities
Section10.FOM: Focus On Modeling: Linear Programming
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Investment Problem
30. An investment have interest rates that differs by 1%. An investment for a year at the
lower rate earns 24,000 pesos. The same principal amount invested for a year at the
higher rate earns 27,000 pesos. What is the lower interest rate?
9%
a.
7%
b. 8%
C.
d. 10%
Transcribed Image Text:Investment Problem 30. An investment have interest rates that differs by 1%. An investment for a year at the lower rate earns 24,000 pesos. The same principal amount invested for a year at the higher rate earns 27,000 pesos. What is the lower interest rate? 9% a. 7% b. 8% C. d. 10%
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