Question

In 2009 a total of R36000 wa inveted in two account. One account earned 7% annual interet and the other earned 9%. The total annual interet earned wa R2920. How much wa inveted in each account?

Answer 1

R16000 at 7%; R20000 at 9%

Explanation:

x is invested at 7%.

y is invested at 9%.

x + y = 36000

0.07x + 0.09y = 2920

y = 36000 - x

0.07x + 0.09(36000 - x) = 2920

y = 36000 - x

0.07x + 3240 - 0.09x = 2920

y = 36000 - x

-0.02x = -320

y = 36000 - 16000

x = 16000

y = 20000

x = 16000