Word problems

Question

Tom invested 3035 spilt into 2 accounts. One account earned 3.6% simple annual interest and the other account earned 2.5%. If after one year the interest earned from each account is the same, how much money was invested in each account

Answer 1

a + b = 3035 ------> a = 3035 - b

.036a = .025b ------> 36a = 25b

 

36(3035 - b) = 25b

109260 - 36b = 25b

61b = 109260

b = 1791.15

 

a = 3035 - 1791.15 = 1243.85

 

Boom.