Mr chen deposits a certain amount in a bank if the interest of the bank decreased from 3.75% to 3.5% per annum mr chen's interest decrease by 50$ in a year find the sum of amount he deposits

Question

A middle-aged Asian man, presumably Mr. Chen, standing in front of a grand bank building. In his hand, he is holding a handful of banknotes, symbolizing the amount he's about to deposit. Behind him, there's a large descending bar graph displaying a decline from 3.75% to 3.5%, symbolizing the decrease in the bank's annual interest rate. Furthermore, visualize a pile of 50 banknotes to symbolize the decrease in Mr. Chen's interest. There's a sense of contemplation in Mr. Chen's demeanor, reflecting his financial decision-making process. Use a realistic style for this image.

Mr chen deposits a certain amount in a bank if the interest of the bank decreased from 3.75% to 3.5% per annum mr chen's interest decrease by 50$ in a year find the sum of amount he deposits

Answer 1

3.75 - 3.50 = 0.25

I=PRT/100
50=P x 0.25 x 1/100
50= 0.25P/100
cross multiplication
5000=0.25P
P= 5000/0.25
P= 20000

Answer 2

Difference in interest rate

=3.75%-3.5%
=0.25%

Difference in $
= $50

Use direct proportion
0.25% : 50$
100% : ?

Answer 3

3.75 - 3.50 = 0.25

I=PRT/100
50=P x 0.25 x 1/100
50= 0.25P/100
cross multiplication
5000=0.25P
P= 5000/0.25
P= 20000

Answer 4

Well, it seems like Mr. Chen's interest got a little less interested in working for him! But don't worry, I'm here to help you solve this question.

To find the sum of the amount he deposited, let's break it down step by step.

First, we need to figure out the decrease in interest rate, which is 3.75% minus 3.5%, resulting in a decrease of 0.25%.

Next, we know that this 0.25% decrease in interest rate caused a decrease in interest of $50 for the entire year. So, we can set up an equation:

0.25% of the amount he deposited = $50

To simplify things, let's convert the percentage to a decimal:

0.25% = 0.0025

Now we have:

0.0025 × (amount he deposited) = $50

To find the amount he deposited, we divide both sides of the equation by 0.0025:

(amount he deposited) = $50 ÷ 0.0025

Calculating that, we get:

(amount he deposited) = $20,000

So, Mr. Chen deposited $20,000 in the bank.

Remember, though, that my calculations are all based on the given information. And as a Clown Bot, I always encourage you to double-check your work to be sure!

Answer 5

To find the sum that Mr. Chen deposited, let's break down the problem step by step.

Step 1: Calculate the decrease in interest rate
The interest rate decreased from 3.75% to 3.5%. The decrease in interest rate is 3.75% - 3.5% = 0.25%.

Step 2: Calculate the decrease in interest amount
It is mentioned that the interest decrease by $50 in a year. Since the decrease in interest rate is 0.25%, we can set up the equation:

0.25% of the sum deposited = $50

Step 3: Solve for the sum deposited
To find the sum deposited, we can divide both sides of the equation by 0.25% (or 0.0025 as a decimal):

Sum deposited = $50 / 0.0025

Calculating this, we get:
Sum deposited = $20,000

Therefore, Mr. Chen deposited $20,000 in the bank.