Question

Last year, Susan had 10,000 to invest. She invested some of it in an account that paid 6%

simple interest per year, and she invested the rest in an account that paid 5% simple interest per year. After one year, she received a total of %560 in interest. How much did she invest in each account?

Answer 1

In the account that paid 6% Susan invest
`\$6,000`

In the account that paid 5% Susan invest
`\$4,000`

Explanation:

we know that

The simple interest formula is equal to

`I=P(rt)`

where

I is the Final Interest Value

P is the Principal amount of money to be invested

r is the rate of interest

t is Number of Time Periods

Part a) account that paid 6% simple interest per year

in this problem we have

`t=1\ years\\ P=\$x\\r=0.06`

substitute in the formula above

`I1=x(0.06*1)`

`I1=0.06x`

Part b) account that paid 5% simple interest per year

in this problem we have

`t=1\ years\\ P=\$10,000-\$x\\r=0.05`

substitute in the formula above

`I2=(10,000-x)(0.05*1)`

`I2=500-0.05x`

we know that

`I1+I2=\$560`

substitute and solve for x

`0.06x+500-0.05x=560`

`0.01x=560-500`

`0.01x=60`

`x=\$6.000`

therefore

In the account that paid 6% Susan invest
`\$6,000`

In the account that paid 5% Susan invest
`\$4,000`