SOLUTION: Dorothy invested her income tax refund in two separate accounts. She invested part of it at 7% and triple that amount at 11%. The total first-year interest from the two investments

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Question 571922: Dorothy invested her income tax refund in two separate accounts. She invested part of it at 7% and triple that amount at 11%. The total first-year interest from the two investments was $120. How much did she invest at 7%?

a. $300 at 7%
b. $150 at 7%
c. $200 at 7%
d. $250 at 7%

Found 2 solutions by Earlsdon, mananth:
Answer by Earlsdon(6294) (Show Source):
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Let x = the amount of the refund Dorothy invested at 7% per annum. The remainder, (3x), she invested at 11%. The interest earned on these two amounts can be expressed as:
0.07x+0.11(3x) = 120 Simplify.
0.07x+0.33x = 120 Combine like-terms.
0.4x = 120 Divide both sides by 0.4
x = 300
Dorothy invested $300 at 7%

Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website!
300 @ 7%