Question

rehman invested his money $3050 in two accounts . In one account he is earning 8% per year and on the other account he earns 7.5% per year. Total he is earning $242. How much did he invest at each account?

Answer 1

Answer:

He invested 2650 in 8% type scheme and 400 in 7.5% scheme

Step-by-step explanation:

Let he invest x in one account and y in second account

x+y=3050

Also,

8%ofx + 7.5%ofy =242

0.08x+0.075(3050-x)=242

(0.08-0.075)x+ 0.075x3050=242

0.005x=13.25

x= 2650

y= 400