Answer:
$3,000 was invested in the account that gained 13%
$17,500 was invested in the account that lost 10%
Step-by-step explanation:
Let the amount in both accounts be x and y
x for the first and y for the second
Adding both is 20,500
x + y = 20,500 •••••(i)
First account earned 13% profit
= 13/100 * x = 0.13x
Second account, a loss of 10%
= -10/100 * y = -0.1y
Total loss of -1,360
This is;
-0.1y + 0.13x = -1,360 •••••••(ii)
From i, x = 20,500-y
Insert this into ii
-0.1y + 0.13(20,500-y) = -1,360
-0.1y + 2665 -0.13y = -1360
-0.23y = -1360-2665
-0.23y = -4025
y = -4025/-0.23
y = 17,500
To get x, we have
x = 20,500 -y
x = 20,500- 17,500
x = 3,000
