Expert Solution

The rate of interest for amount $1000 is 4.75%. ### Explanation of Solution Given: Jack invests$1000 at a certain interest and another amount $2000 at one-half percent higher. Total interest received after 1 year is$190.

Calculation:

Let the rate of interest is x.

Tabulate the given information into the language of algebra.

 In words In Algebra Rate of interest for $1000 x Rate of interest for$2000 1.5x

Model the equation for the above information.

Interestfor$1000+Intersetfor$2000=Totalinterest1000x+2000×1.5x=190

Simplify the above equation for x,

1000x+3000x=1904000x=190x=0.0475x=4.75%

Thus, the rate of interest for amount \$1000 is 4.75%.

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