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
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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
