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Posted by on Wednesday, June 20, 2012 at 11:57am.

Suppose $500 is divided into two bank accounts. One account pays 15% simple interest per year and the other pays 10%. After three years there is a total of $200 in interest between the two accounts. How much was invested into the bank account that pays 10% simple interest (rounded to the nearest cent)?

  • math - , Wednesday, June 20, 2012 at 12:36pm

    x = amount invested in the 15% account

    x*.15*3 + (500-x)*.1*3 = 200
    x = 333.33

    so, 500-333.33 = 166.67 at 10%

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