Question

Jamie invested $3000, part at 11% interest in a porridge company and part at 8% in a bowl company. She earned $216 more in interest from the 11% investment than she did from the 8% investment. How much did she invest at each rate?

Answer 1

• $2400 at 11%
• $600 at 8%

Explanation:

Let x represent the amount invested at 11%. Then (3000-x) is the amount invested at 8%. The interest difference is ...

0.11x - 0.08(3000 -x) = 216

0.19x -240 = 216 . . . . . . . . simplify

0.19x = 456 . . . . . . . . . . . . add 240

456/0.19 = x = 2400 . . . . . the amount invested at 11%

3000-2400 = 600 . . . . . . . the amount invested at 8%