SOLUTION: Omar invested $5000 in two accounts. He put $2200 in an account paying 4% simple interest and the rest in an account paying 5% simple interest. How much interest did he earn in one

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Omar invested $5000 in two accounts. He put $2200 in an account paying 4% simple interest and the rest in an account paying 5% simple interest. How much interest did he earn in one      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1117371: Omar invested $5000 in two accounts. He put $2200 in an account paying 4% simple interest and the rest in an account paying 5% simple interest. How much interest did he earn in one year from both account?
I need to make a table showing principle, rate and interest.
Answer by Vijayag(1) About Me  (Show Source):
You can put this solution on YOUR website!
In the first case :
The principle amount is $ 2200 (P)
The rate of interest. is 4% (R)
The no. Of years. is 1yr (T)
Formula for calculating S.I is PTR/100
= 2200*4*1/100
= $ 88
Similarly in the second case :
P is $ 2800
R is 5%
T is 1 yr
Hence S.I is 2800*5*1/100
= $ 140
The total interest gained by him will be $88 + $ 140 = $ 228
* hope u got the answer!!