$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%?

1 Answer
Jul 5, 2017

Answer:

The money invested at #3%# is $#2500#.

Explanation:

We call the quantity invested at #3%# as #X# and the quantity invested at #4%# as #Y#.

Than we have that $$X+Y=8000$$ and also $$X\times 3/100+Y\times4/100=295.$$

We are interested in #X# so from the first equation we have #Y=8000-X# and we substitute in the second equation

$$X\times 3/100+(8000-X)\times4/100=295$$
and we solve for #X#
$$3X-4X+32000=29500$$
$$-X=29500-32000$$
$$X=2500.$$