SOLUTION: A man invests a certain amount of money at 2% interest and $800 more than that amount in another account at 4% interest. At the end of one year, he earned $92 in interest. How much

Question 250799: A man invests a certain amount of money at 2% interest and $800 more than that amount in another account at 4% interest. At the end of one year, he earned $92 in interest. How much money was invested in each account?
A) $1,500 at 2%; $2,300 at 4%
B) $1,400 at 2%; $2,200 at 4%
C) $1,000 at 2%; $1,800 at 4%

Answer by palanisamy(496) (Show Source): You can put this solution on YOUR website!
Let the man invest an amount x at 2% interest.
Then, he invests an amount (x+800) at 4% interest.
Total simple interest for one year is
x*2/100 + (x+800)*4/100 = 92
2x+4x+3200 = 9200
6x = 9200-3200
6x = 6000
x = 1000
So the man invested $ 1000 at 2% interest and $ 1800 at 4% interest.

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