SOLUTION: Jarvis invested some money at 5% interest. Jarvis also invested $152 more than 3 times that amount at 10%. How much is invested at each rate if Jarvis received $1387.90 in interest
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Question 1076283: Jarvis invested some money at 5% interest. Jarvis also invested $152 more than 3 times that amount at 10%. How much is invested at each rate if Jarvis received $1387.90 in interest after one year?
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
total interest is 1387.90.
x = amount invested at 5%.
y = amount invested at 10%.
since the amount he invested at 10% is 152 more than 3 times the amount he invested at 5%, then:
y = 3 * x + + 152.
your formula for interest is:
.05 * x + .10 * y = 1387.90
since y = 3 * x + 152, replace it in this equation to get:
.05 * x + .10 * (3 * x + 152) = 1387.90
simplify to get:
.05 * x + .3 * x + 15.2 = 1387.90
combine like terms to get:
.35 * x + 15.2 = 1387.90
subtract 15.2 from both sides of the equation to get:
.35 * x = 1372.7
solve for x to get x = 1372.7 / .35 = 3922
since y = 3 * x + 152, then:
y = 11918
.05 * 3922 + .10 * 11918 = 1387.9
i believe that satisfies the problem statement.
your solution is that he invested 3922 at 5% and 11918 at 10%.
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