Question 16966: Different interest rates. Mrs. Brighton invested $30,000 and received a total of #2,300 in interest. If she invested part of the money at 10% and the remainder at 5%, then how much did she invest at each rate?
Answer by Earlsdon(6294)   (Show Source):
You can put this solution on YOUR website! Let x = the amount invested at 10% and ($30,000 - x) the amount invested at 5%
The interest Mrs. Brighton received from these two investments would be:
(10% of $x) + (5% of ($30,000 - $x)) and this = $2,300 So, knowing this we can solve for x, the amount invested at 10%, and once we have that, we can find the amount invested at 5%. Let's set up the appropriate equation after changing the percents to their decimal equivalents: 10% = 0.1 and 5% = 0.05
 Simplify and solve for x.
 Combine the x-terms.
 Subtract 1500 from both sides.
 Divide both sides by 0.05
$16,000 was invested at 10%
$30,000 - $16,000 = $14,000 was invested at 5%
Check:
0.1($16,000) + 0.05($14,000) = $1,600 + $700 = $2,300 Total interest received.
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