SOLUTION: $6300 is invested, part of it at 10% and part of it at 6%. For a certain year the total yield is $502.00. How much invested at each rate?

Question 526732: $6300 is invested, part of it at 10% and part of it at 6%. For a certain year the total yield is $502.00. How much invested at each rate?
Answer by Maths68(1474) (Show Source): You can put this solution on YOUR website!
Total Amount invested = $6300
Total Profit = $502
Let
Amount invested at 10% = x
Amount invested at 6% =6300-x

Amount invested at 10% * 10% + Amount invested at 6% * 6% = Total Profit
x*10%+(6300-x)*6% = 502
x(10/100)+(6300-x)(6/100)=502
Multiply by 100 both sides
10x+(6300-x)*6=502*100
10x+37800-6x=50200
10x-6x=50200-37800
4x=12400
4x/4=12400/4
x=3100

Amount invested at 10% = x = $3100
Amount invested at 6% =6300-x = 6300-3100 = $3200

Check
====
x*10%+(6300-x)*6% = 502
3100*(10/100)+(3200)*6/100 = 502
31000/100+19200/100 = 502
310+192=502
502=502
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