Question

Carol invested 2,560 into two accounts. One account paid 6% interest and the other paid 8% interest. She earned 7.25% interest on the total investment. How much money did she put in each account?

Answer 1

Total interest=7.25% of 2560=185.60.

If she invested x in the 6% one then she invested (2560-x) in the other.

So 185.60=0.06x+0.08(2560-x)=0.06x+204.80-0.08x.

Therefore 0.02x=204.80-185.60=19.20.

x=19.20/0.02=1920/2=960 and 2560-x=1600.

She invested 960 @ 6% and 1600 @ 8%.