helppppp me please?

Question

Tyler has two savings accounts that his grandparents opened for him. One of the accounts pay

10% annual interest, whereas the other pays

12% annual interest. If you have


$200 more invested at

12% than you invested at

10%, how much do you have invested in each account if the total amount of interest you earn in a year is

$112?

Answer 1

Assuming X is the amount invested in the account with 10% annual interest rate, the following equation will lead to the solution:

 

0.1x + 0.12(x+200)=112
0.22x + 24 =112
0.22x = =88
x=400

 

$400 is invested in  the account with 10% annual interest rate. Correspondingly, the amount invested in the second account with 12% interest rate is (400+200) = $600