Word Problem, Investnig

Question

A worker invested $24,000 in two accounts, one yielding 4% interest and the other yielding 12%. If he received a total of $1520 in interest at the end of the year, how much did he invest at 4%?

Answer 1

A(0.04) + B(0.12) = 1520

A + B = 24000

 

4A + 12B = 152000

A + 3B = 38000

 

-3A-3B = -72000

A + 3B = 38000

-2A = -34000

 

A = $17,000 was invested at 4%.

Answer 2

X - amount invested in 4 % 

 

24000 - X -- invested in 12%

 

  X ( 0.04 ) + ( 24000 - X ) ( 0.12) = 1520

 

  X ( 0.04 - 0.12) = 1520 - 2880= -1360

 

         X = 1360/ 0.08 = 17000 / invested in 4%

 

          24000 - 17000 = 7000   /invested in 12% account