SOLUTION: $2000 more is invested in an account earning 12% simple interest than in an account earning 8% simple interest. If the total interest at the end of 1 year is $1240, how much was i

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Question 1052386: $2000 more is invested in an account earning 12% simple interest than in an account earning 8% simple interest. If the total interest at the end of 1 year is $1240, how much was invested in each account?
Found 2 solutions by ewatrrr, MathTherapy:
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
Let x be the amount at 8%
.12(x+ 2000) + .08x = $1240
.20x = $1000
x = $1000/.2
x = $5000, amount at 8%. $10,000 at 12% 8000%2B2000

Answer by MathTherapy(10551) About Me  (Show Source):
You can put this solution on YOUR website!

$2000 more is invested in an account earning 12% simple interest than in an account earning 8% simple interest. If the total interest at the end of 1 year is $1240, how much was invested in each account?