Andrea invests $1700 in one account and $900 in an account paying 3% higher interest. At the end of one year she had earned $261 in interest. At what rates did she invest?

Question

$1700 invested at what %

$900 invested at what %

Answer 1

Answer: $1700 invested at 9%

$900 invested at 12%

Explanation:

1700 is invested at interest rate x

(1700/100)x + (900/100) (x+3) = 261

17x + 9 (x+3) =261

17x + 9x + 27 = 261

26x = 234

x=9