Mr. Wilson invested money in two accounts. His total investment was If one account pays in interest and the other pays in interest, how much does he have in each account if he earned a total of in interest in 1 year?

Question

Mr. Wilson invested money in two accounts. His total investment was  If one account pays  in interest and the other pays  in interest, how much does he have in each account if he earned a total of  in interest in 1 year?

Quizplus · Accepted Answer

Let x be the amount invested in the first account, and y be the amount invested in the second account. 
From the problem, we know that 
x + y = 11ec1544_3779_7a5e_8a2d_5bff8b1d48a6_TBX8671_11  ------ (1) 
0.11x + 0.13y = 11ec1544_3779_a171_8a2d_93338e676f12_TBX8671_11 ------ (2)

To solve for x and y, we can use elimination or substitution method. For simplicity of calculation, we use elimination method.

(0.13 - 0.11)y = 0.02y = (11ec1544_3779_a171_8a2d_93338e676f12_TBX8671_11 - 0.11x) - (0.11)(11ec1544_3779_7a5e_8a2d_5bff8b1d48a6_TBX8671_11 - x) 
0.02y = 11ec1544_3779_35b9_8a2d_cf109a8f078c_TBX8671_11 
y = 11ec1544_3779_c886_8a2d_abc2b9119ab0_TBX8671_11

Substituting this value in (1), we get
x + 11ec1544_3779_c886_8a2d_abc2b9119ab0_TBX8671_11 = 11ec1544_3779_7a5e_8a2d_5bff8b1d48a6_TBX8671_11 
x = 11ec1544_3779_c887_8a2d_adb4af7e5307_TBX8671_11

Therefore, Mr. Wilson has invested 11ec1544_3779_c887_8a2d_adb4af7e5307_TBX8671_11 in one account and 11ec1544_3779_c886_8a2d_abc2b9119ab0_TBX8671_11 in the other account. So, the answer is option C.

Mr Wilson Invested Money in Two Accounts