Question

$9500 is invested, part of it at 12%, and part of it at 9%, For a certain year, the total yield is $1032.00. How much was invested at each rate?. How much was invested at 12%. How much was invested at 9%.

Answer 1

Let us assume the amount invested at 12% = x
Let us assume the amount invested at 9% = y
Total amount invested = $9500
Total yield = $1032
Then
x + y = 9500
x = 9500 - y
and
0.12x + 0.09y = 1032
Putting the value of "x" in the second equation, we get
0.12(9500 - y) + 0.09y = 1032
1140 - 0.12y + 0.09y = 1032
0.03y = 108
y = 3600
Putting the value of y in the first equation, we get
x = 9500 - 3600
= 5900
I hope the procedure is clear enough for you to understand.