SOLUTION: sang has invested $48,000, part at 6% and the rest in a higher risk investment at 10%. How much did she invest at each rate to receive $4000 in interest after one year?

Question 704662: sang has invested $48,000, part at 6% and the rest in a higher risk investment at 10%. How much did she invest at each rate to receive $4000 in interest after one year?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 6.00% per annum ------------- Amount invested =x
Part II 10.00% per annum ------------ Amount invested = y
48000
Interest----- 4000

Part I 6.00% per annum ---x
Part II 10.00% per annum ---y
Total investment
x + 1 y= 48000 -------------1
Interest on both investments
6.00% x + 10.00% y= 4000
Multiply by 100
6 x + 10 y= 400000.00 --------2
Multiply (1) by -6
we get
-6 x -6 y= -288000.00
Add this to (2)
0 x 4 y= 112000
divide by 4
y = 28000
Part I 6.00% $ 20000
Part II 10.00% $ 28000

CHECK
20000 --------- 6.00% ------- 1200.00
28000 ------------- 10.00% ------- 2800.00
Total -------------------- 4000.00

m.ananth@hotmail.ca

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