Question

Last year, Singh had $20,000 to invest. He invested some of it in an account that paid 7% simple interest per year, and he invested the rest in an account that paid 6% simple interest per year. After one year, he received a total of $1280 in interest. How much did he invest in each account?

Answer 1

8000 and 12000 respectively

Explanation:

Let the amount invested in first account be x and y be the amount invested in the second account.

ATQ, x+y=20000 and 1280=(7/100)*x+(6/100)*y

x=8000 and y=12000.