SOLUTION: Hi I need help on this word problem. Could someone please help? Susan invests 2 times as much money at 10% as she does at 6%. If her total interest after 1 year is $780, how muc

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Question 1145188: Hi I need help on this word problem. Could someone please help?
Susan invests 2 times as much money at 10% as she does at 6%. If her total interest after 1 year is $780, how much does she have invested at each rate?

Found 2 solutions by richwmiller, ikleyn:
Answer by richwmiller(17219)   (Show Source): You can put this solution on YOUR website!
.10*2x+.06x=780
Answer by ikleyn(52847)   (Show Source): You can put this solution on YOUR website!
.

Let x be the amount invested at 6%, in dollars.

Then the amount invested at 10%, is 2x dollars.


The 6% investment produces the interest of 0.06x  dollars.

The 10% investment produces the interest of 0.1*(2x)  dollars.


The total interest is


    0.06x + 0.1*(2x) = 780   dollars.


Simplify and solve for x


    0.06x + 0.2x = 780

    0.26x        = 780

        x        =  = 3000.


Answer.  $3000 invested at 6%;  2*3000 = 6000 dollars invested at 10%.


CHECK.   0.06*3000 + 0.1*6000 = 780 dollars.   ! Correct !.

Solved.

----------------

It is a standard and typical problem on investments.

If you need more details,  or if you want to see other similar problems solved by different methods,  look into the lesson
    - Using systems of equations to solve problems on investment
in this site.

You will find there different approaches  (using one equation or a system of two equations in two unknowns),  as well as
different methods of solution to the equations  (Substitution,  Elimination).

Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic  "Systems of two linear equations in two unknowns".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.


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