Question

Saul made some extra money last year from a part-time job. He invested part of the money at 2% with four times as much invested at 3.25%. He made a total of $150.00 in interest. How much was invested at 3.25%?

Answer 1

$4000

Explanation:

Given that :

Total interest earned = $150

Let amount invested (p) at 2% = x

Amount invested (p) at 3.25% = 4x

Interest = principal * rate * time

At 2%:

(x * 0.02 * 1 ) + (4x * 0.0325 * 1) = 150

0.02x + 0.13x = 150

0.15x = 150

x = 150 / 0.15

x = 1000

Hence,

Amount invested at 2% = x = 1000

Amount invested at 3.25% = 4x = 4(1000) = 4000