SOLUTION: How can $6300 be invested, one part at 4% p.a. and the remainder at 5% p.a., so that the simple interest will be the same on each investment? Thanks for helping me!

Question 189687: How can $6300 be invested, one part at 4% p.a. and the remainder at 5% p.a., so that the simple interest will be the same on each investment?
Thanks for helping me!
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Let
x = amount invested at 4%
y = amount invested at 5%

Since $6,300 is invested, this means that . Solve for "y" to get

Also, because we want the simple interest in both investments to be equal, this means that . Multiply both sides by 100 to get

Start with the second equation.

Plug in

Distribute.

Add to both sides.

Combine like terms on the left side.

Divide both sides by to isolate .

Reduce.

So $3,500 needs to be invested at 4%

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

Go back to the first equation

Plug in

Combine like terms.

So $2,800 is needed to be invested at 5%

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