You invest some money at 2% and 1000 more than twice this amount at 4%. If the total annual interest was $240, how much did you invest at each percent?

Amount invested in;

2% rate x = $2000

4% rate (2x+1000) = $5000

Step-by-step explanation:

Let x represent the amount invested in 2% rate;

The amount invested in 4% rate = 2x + 1000

Given;

Annual interest = $240

Annual interest for 2% rate;

0.02 * x = 0.02x

Annual interest for 4% rate;

0.04 * (2x+1000) = 0.08x + 40

Total annual interest is;

0.02x + 0.08x + 40 = 0.10x + 40

Equating to the given value;

0.10x + 40 = 240

0.10x = 240-40 = 200

x = 200:0.10

x = $2000

And

2x + 1000 = 2 (2000) + 1000 = $5000

Amount invested in;

2% rate x = $2000

4% rate (2x+1000) = $5000