Question

Two investments were made totaling $15000. for a certain year these investments yielded $1432 in simple interest. part of the $15000 was invested at 9% and part at 10%. find the amount invested at each rate

Answer 1

Let amount invested at 9% be "x"; Interest on this is 0.09x dollars Amt. invested at 10% is "15000-x" ; Interest on this is 0.1(15000-x)=1500-0.1x dollars EQUATION: interext + interest=1432 dollars 0.09x + 1500-0.10x = 1432 -0.01x = -68 x=$6800 (amt invested at 9%) 15000-6800=$8200 (amt invested at 10%)