PCAT QA word problem

[Anika95]

Hey everyone, I'm new to this forum so i don't know where to actually post this question:
~ Jim invests a total of 50,000 dollars in two accounts, one earning 2.5 percent simple rate, the other earning 5 percent, if after 2 years the account earning 5 percent has earned 500 dollars more, approximately how much was invested in the 5 percent account?
The answer is 20,000 dollars

I've been having a hard time working my head around this question, so any guidance will be appreciated.☺

---

Members don't see this ad.

 

[youngsoo1269]

x = amount invested in the 5% account after 2 years
(x*.05*2) - (50,000-x)*.025*2 = 500
x= 20,000

 

[Anika95]

x = amount invested in the 5% account after 2 years
(x*.05*2) - (50,000-x)*.025*2 = 500
x= 20,000

Thank you very much