600$ in two accounts. One gives 2% simple intrest. ther gives 3%. H

Question

James invested 600$ in two savings accounts. One account gives a 2% simple u interest the other gives 3% simple interest. Find the amount invested in each account if he received a total of 16.60$ interest after one year.

Answer 1

Gabe-

We are looking at two things, the amount invested and the amount of interest earned.

Let x = amount invested at 2%

Since the total amount is 600, the amount at 3% is 600 - x.

Now the interest is the rate x the amount invested.

.02x + .03(600 - x) = 16.60

.02x + 18 -.03x = 16.6

Combine the like terms on one side of the equation, then isolate the x.  That will give you the amount invested at 2%.  Subtract it from $600 and you will get the amount invested at 3%.

Mary