Question

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%?

Answer 1

The correct answer would be $2,500

Explanation:

Answer 2

$5,500

Explanation:

Let A be the amount invested at 3%, B the amount at 4%.

Total value:

1.A%2BB=8000

Interest:

Multiply eq. 1 by -3 and add to eq. 2,

-3A-3B%2B3A%2B4B=-24000%2B29500

highlight%28B=5500%29

Then from eq. 1,

A%2B5500=8000

highlight%28A=2500%29