Sharmi and Reese each deposit money into a savings account. Sharmi deposits $300 less than Reese. After the same amount of time, Reese has earned $180 in interest at a rate of 3% per year, and Sharmi has earned $270 in interest at a rate of 6% per year. How much money did Reese and Sharmi initially deposit into their savings accounts?

Question

anonymous · Answer

Here are the answers: 
Reese initially deposited $324, Sharmi initially deposited $24. 

 Reese initially deposited $900, Sharmi initially deposited $600. 

 Reese initially deposited $1,200, Sharmi initially deposited $900. 

 Reese initially deposited $1,620, Sharmi initially deposited $1,300.

mertsj · Answer

x= amount Reese deposited
x-300 = amount Sharmi deposited
.03x = interest Reese earned
.06(x-300)= interest Sharmi earned
.03x+.06(x-300)=180+270