$8,000 is invested in two different accounts earning 3% and 4% interest. If the two accounts earn a total of $295 in interest, how much money was invested at 3%?

1 Answer
Burglar
Jul 5, 2017

The money invested at 3% is $2500.

Explanation:

We call the quantity invested at 3% as X and the quantity invested at 4% as Y.

Than we have that X+Y=8000 and also X\times 3/100+Y\times4/100=295.

We are interested in X so from the first equation we have Y=8000-X and we substitute in the second equation

X\times 3/100+(8000-X)\times4/100=295
and we solve for X
3X-4X+32000=29500
-X=29500-32000
X=2500.

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