SOLUTION: Last year, Ali had $30,000 to invest. He invested some of it in an account that paid 10% simple interest per year, and he invested the rest in an account that paid 6% simple intere
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Question 819279: Last year, Ali had $30,000 to invest. He invested some of it in an account that paid 10% simple interest per year, and he invested the rest in an account that paid 6% simple interest per year. After one year, he received a total of $2920 in interest. How much did he invest in each account? Answer by TimothyLamb(4379) (Show Source):
You can put this solution on YOUR website! ---
using percents (rather than fractions) in the left side of the following equation
so multiply right side by 100 to compensate
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10a + 6b = 2920 * 100
a + b = 30000
b = 30000 - a
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10a + 6b = 292000
10a + 6(30000 - a) = 292000
10a + 180000 - 6a = 292000
4a = 112000
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a = $28000 at 10%
b = $2000 at 6%
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