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Question 155193: Jan invested 1200 dollars to a certain simple intrest rate and 2200 dollars at a rate of 3 percent higher. Her annual earning was 253 dollars. Find the two intrest rates if she earned 121 dollars more on the higher than on the smaller.: Jan invested 1200 dollars to a certain simple intrest rate and 2200 dollars at a rate of 3 percent higher. Her annual earning was 253 dollars. Find the two intrest rates if she earned 121 dollars more on the higher than on the smaller.
Answer by checkley77(3422) About Me  (Show Source):
You can put this solution on YOUR website!
1200X+2200(X+3)=253 OR 1200X-253=-2200(X+3)
1200X+121=2200(X+3)NOW ADD THE 2 EQUATIONS
1200X-253=-2200(X+3)
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2400X-132=0
2400X=132
X=132/2400
X=.055 OR %5.5% FOR THE $1200 INVESTMENT.
.055+.03=.085 0R 8.5% FOR THE $2200 INVESTMENT.
PROOF
1200*.055+2200*.085=253
66+187=253
253=253