SOLUTION: Mrs. Garcia invests a total of $9099 in two savings accounts. One account yields 7.5% simple interest and the other 9% simple interest. She earned a total of $699.84 interest for t

Question 635216: Mrs. Garcia invests a total of $9099 in two savings accounts. One account yields 7.5% simple interest and the other 9% simple interest. She earned a total of $699.84 interest for the year. How much was invested in each account?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Account I 7.50% per annum ------------- Amount invested =x
Account II 9.00% per annum ------------ Amount invested = y
9099
Interest----- 699.84

Account I 7.50% per annum ---x
Account II 9.00% per annum ---y
Credit on both cards
x + y= 9099 -------------1
Interestto be paid on both
7.50% x + 9.00% y= 699.84
Multiply by 100
7.5 x + 9 y= 69984.00 --------2
Multiply (1) by -7.5
we get
-7.5 x -7.5 y= -68242.50
Add this to (2) we get
1.5 y= 1741.5
divide by 1.5
y = 1161

Account I 7.50% $ 7938
Account II 9.00% $ 1161

CHECK
7938 --------- 7.50% ------- 595.35
1161 ------------- 9.00% ------- 104.49
Total -------------------- 699.84

m.ananth@hotmail.ca

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