SOLUTION: Larry Mitchell invested part of his $30000 advance at 3% annual interest and the rest at 6%anual simple interest .if his total yearly interest from both account is $930 find the am
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Question 1047481: Larry Mitchell invested part of his $30000 advance at 3% annual interest and the rest at 6%anual simple interest .if his total yearly interest from both account is $930 find the amount invested in each rate Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! Let the part of his 30000 invested at 3% be x. Then, the amount invested at 6% will be 30000-x:
0.03x+0.06(30000-x) = 930
0.03x+1800-0.06x = 930
0.03x-0.06x = 930-1800
-0.03x = -870 Divide both sides by 0.03, and remember -/- = +
x = 29000 are invested at 3% and 30000-29000 = 1000 at 6%
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Check:
29000*0.03 = 870
1000*0.06 = = 60
Total. . . . 930 Correct
