Question 29786: Geoff has $5000 to invest. He wants to earn $568 in interest in one year. He will invest part of the money at 12% and the other part at 10%. How will he invest to earn $568?
Answer by ikdeep(226)   (Show Source):
You can put this solution on YOUR website! Total money to invest = $5000
Let one part of meoney = $x..........(1)
Let other part of meoney = ($5000 - x)...............(2)
According to question,,,one part is invested at 12% and other part is invested at 10%..and the total money to earn = $568
So the equation goes like this .....
12% of one part + 10% of other part = $568
Putting the values from (1) and (2).we get..
12% of $x + 10% of ($5000 - x) = $568
find the value of x and put them in (1) and (2)...to get answer
Hope this will help...
If you are not able to solve further also, contact me again..
Please feel free to revert back for any further queries
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