The amount of annual interest earned by $8,000 invested at a certain rate is $200 less than $12000 would earn at a rate 1% lower . At what rate is the $8000 invested?

• (x-1)/100*12000 -200 = 8000x/100
  (x-1)*120-200 =80x
  120x-120-200=80x
  40x=320
  x= 8%
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