Question

Jill and Brian divided up $1900 between two investment accounts. Jill's account earns 4% interest and Brian earns 3%. If their combined interest earns them $70, then how much was originally invested in each account?

Answer 1

Answer:

The amounts invested in the accounts that yielded 3% and 4% interests are $600 and $1,300 respectively

Explanation:

Total amount divided = $1900

Let the amount invested in the two accounts be a and b

such that

a + b = 1900      ------------- Equation 1

then,

3% of a + 4% of b = 70

0.03a + 0.04b = 70

3a + 4b = 7000  -------------  Equation 2

Solving equations 1 and 2 simultaneously

a + b = 1900

3a + 4b = 7000

3a + 3b = 5700

b = 7000 - 5700

b = 1,300

a = 1900 - 1300

a = 600

The amounts invested in the accounts that yielded 3% and 4% interests are $600 and $1,300 respectively.