Question 427517: Bill invested a total of $8000 in two accounts, one paying 10% interest and the other paying 15% interest. If the total interest earned was $1000, how much was invested at each rate?
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! Part I 10.00% per annum
Part II 15.00% per annum
x+y=8000 ------------------------1
10.00%x +15.00% y=$1,000.00
Multiply by 100
10x+15y =$100,000.00--------2
Multiply (1) by -10
we get
-10x-10y =-80000
Add this to (2)
5y= $20,000.00
divide by 5
y=$4,000.00 investment at 15%
Balance $4,000.00 investment at 10%
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