Question

Asaad invests $6800 in two different accounts. The first account paid 14 %, the second account paid 11 % in interest. At the end of the first year he had earned $856 in interest. How much was in each account?

Answer 1

Explanation:

Let x be the amount invested in the first account, which pays 14% interest. Then the amount invested in the second account, which pays 11% interest, is 6800 - x.

The interest earned on the first account is 0.14x, and the interest earned on the second account is 0.11(6800 - x). The total interest earned is the sum of these two amounts, so we have:

0.14x + 0.11(6800 - x) = 856

Simplifying and solving for x, we get:

0.14x + 748 - 0.11x = 856

0.03x = 108

x = 3600

Therefore, Asaad invested $3600 in the first account and $3200 (6800 - 3600) in the second account.