SOLUTION: A sum of $2300 is invested, part of it at 5% interest and the remainder at 6%. If the interest earned by the 6% investment is $50 more than the interest earned by the 5% investment
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Question 715200: A sum of $2300 is invested, part of it at 5% interest and the remainder at 6%. If the interest earned by the 6% investment is $50 more than the interest earned by the 5% investment, find the amount invested at each rate.
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
$ 2300
let x be part I..............5%
(2300-x) = Part II............6%
Interest earned by 5% investment = 0.05x
Interest earned by 6% investment = 0.06(2300-x)
0.06(2300-x) -0.05x= 50
138- 0.06x-0.05x= 50
-0.11x= 50-138
-0.11x= - -88
x= -88/-0.11
x=800 ---------- investment at 5%
invetment at 6% = 2300-800= 1500 at6%
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