Peter has money in two savings accounts. One rate is 9% and the other is 11%. If he has $200 more in the 11% account and the total interest is $68, how much is invested in each savings account?

Answer 1

Let x represent mount at 9%
Let x + 200 represent amount at 11%
Total interest earned is 68$
0.09x + 0.11 (x + 200) = 68
0.09x + 0.11x + 22 = 68
0.2x + 22 = 68
0.2x + 22 - 22 = 68 - 22
0.2x = 46
0.2x / 0.2 = 46 / 0.2
x = $230 is amount at 9%
Amount at 11%= 230 + 200 = $430