In the given problem, two assumptions are already provided. Let the amount of money invested at 8% = x Let the amount of money invested in 2% = y Then from the above question we can find that x = y + 700 Also (8x/100) + (2y/100) = 380 8x + 2y = 380 * 100 8x + 2y = 38000 Now replacing the value of x from the first equation we get 8(y + 700) + 2y = 38000 8y + 5600 + 2y = 38000 10y = 38000 - 5600 10 y = 32400 y = 32400/10 = 3240 Putting the value of y in the first equation, we get x = y + 700 = 3240 + 700 = 3940 So the amount of money invested at 8% is $3940 and the amount of money invested at 2% is $3240.
