SOLUTION: Invest $30,000 and receive $2,300 in interest. Part was invested at 10% and remainder at 5%. How much was invested at each rate?

Question 13356: Invest $30,000 and receive $2,300 in interest. Part was invested at 10% and remainder at 5%. How much was invested at each rate?
Answer by rapaljer(4671) (Show Source): You can put this solution on YOUR website!
Let x = amount invested at 10%
30000 - x = amount invested at 5%

.10 x + .05(30000 - x) = 2300
.10x + 1500 - .05x = 2300
.05x + 1500 = 2300
.05x = 800
at 10%
at 5%

Check:
.10($16000) + .05($14000)
$1600 + $700 = $2300

R^2 at SCC

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