Allen owes $2,000 on two different credit cards. The money owed on Card A is charged 9% interest and the rest, owed on Card B, is being charged 10% interest.

Question

Allen owes $2,000 on two different credit cards. The money owed on Card A is charged 9% interest and the rest, owed on Card B, is being charged 10% interest. How much is on each card if $195 of interest will be owed if the amounts sit on the cards for one year.

Answer 1

Hi Alex,

Assuming this is simple interest, turn this into a math sentence...

(amount on card A) x .(.09 interest rate on A) + (amount on card B, which is also $2000 - amount on A) x (.10 interest rate on B) = $195

simplified... (.09) A + (.10) ($2000 - A) = $195

Now you can solve for A and then subtract that from $2000 to find B.

Always check your answers:)