Problema Solution
Jose invests money in two simple interest accounts. he invests four times as much in an account paying 12% as he does in an account paying 6%. If he earns $216.00 in interest in one year from both accounts combines, how much did he invest altogether?
total principal in Both Accounts=
Answer provided by our tutors
Let he invested x dollars in account paying 6% then he had invested 4x dollars in account paying 12%.
So,
0.06x + 0.12*4x = 216
0.06x + 0.48x = 216
0.54x = 216
x = 216/0.54
x = 400
So,
He invested $400 in 6% account and $1600 in 12% account.