Answered

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Jimmy and Jenny both invest in 2 simple interest bank accounts. Jimmy invests $3000 in account A and $6000 into account B. Jenny invests $5000 into account A and Jenny invests $3000 into account B. After 1 year, Jimmy earns $270 interest and Jenny earns $275. Determine the simple interest rates for the 2 accounts.

Sagot :

pratheesh

Let's denote the interest rates for account A and B as A% and B% respectively.

From the information given, we can set up a system of two equations:

* 3000A% + 6000B% = 270 (Jimmy's interest)

* 5000A% + 3000B% = 275 (Jenny's interest)

Solving this system of equations will give us the interest rates for accounts A and B.

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