Problema Solution
17,100 is invested between two accounts: one paying 2% simple interest and other paying 1$% simple interest. After 1 year the total interest was 250. How much was invested
Answer provided by our tutors
17,100 is invested between two accounts: one paying 2% simple interest and other paying 1$% simple interest. After 1 year the total interest was 250. How much was invested
let invested in 2% = $x
invested in 1% = $(17100-x)
interest earned = 2x/100 + (17100-x)/100
=> x + 17100 = 25000
=> x = 7900
invested in 2% = $7900
invested in 1% = $9200