Question

Jody invested $4800 less in an account paying 5% simple interest than she did in an account paying 2% simple interest. At the end of the first year, the total interest from both accounts was $551. Find the amount invested in each account

Answer 1

just add up the interest:
(x-4800)*.05 + x*.02 = 551
Now solve for x (and x-4800)

Answer 2

.05 x + .02(x +4800) = 551
.07 x + 96 = 551
.07 x = 455
x = 6500
x+4800 = 11300