Deposited 66314

Mr. Adam and Mr. Milan each deposited 20,000 euros in their bank. After the first year, Mr. Adam added 600 euros and Mr. Milan 550 euros. What was the interest rate of each bank?

Correct answer:

p1 =  3 %
p2 =  2.75 %

Step-by-step explanation:

v=20000 eur i1=600 eur  p1=100 vi1=100 20000600=20000100 600=2000060000=3%
i2=550 eur  p2=100 vi2=100 20000550=20000100 550=2000055000=411%=2.75%

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