Question

Daniel deposited a certain sum of money in a bank.If the simple interest rate of the bank decreases from 3.75% per year to 3.5% per year,Daniel interest will increase by $50 in a year. findvthe sum of money he deposits.

Guys plz I want good answer
you can also use any formula​

Answer 1

$51.75

Explanation:

Okay, so. They decreased there interest by .15. It is really nothing. So, we have no clue how many years. So, we will just use one year. We would start by multiplying 50 and 3.5% that will equal 1.75. Then we would add it up. 50 + 1.75, it will equal to 51.75.

Therefore your answer is $51.75

Hope this helps!