SOLUTION: Jane invested some amount at the rate of 12% simple interest and some other amount at the rate of 10% simple interest. She received yearly interest of $130. Randy also invested in
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Question 132062: Jane invested some amount at the rate of 12% simple interest and some other amount at the rate of 10% simple interest. She received yearly interest of $130. Randy also invested in the same scheme, but he interchanged the amounts invested, and received $4 more as interest. How much amount did each of them invest at different rates?
Please help me solve this problem. Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Jane invested
$ at 12%
$ at 10%
-------------
Randy invested
$ at 12%
$ at 10%
-------------
For Jane:
(1)
For Randy:
(2)
-------------
Rewrite (2) as:
(3)
Set the left side of (3) equal to the left
side of (1)
divide both sides by
Substitute this in (1)
Jane invested
$ at 12%
$ at 10%
-------------
Randy invested
$ at 12%
$ at 10%
check answers:
(1)
-------------
(2)
OK
