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Question 1104608: Please help me solve this problem...im dying i need this today ... thank you
Reliie invests 12,000. A part of it earns 10% interest annually and the rest earns 9% interest annually. His annual income from his investments is 1,130. How much is invested at each rate?
Found 2 solutions by stanbon, Gerwally:
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Reliie invests 12,000. A part of it earns 10% interest annually and the rest earns 9% interest annually. His annual income from his investments is 1,130. How much is invested at each rate?
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Quantity Eq:: t + n = 12000
Interest Eq::0.10t + 0.09n = 1130
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Modify for elimination::
10t + 10n = 120000
10t + 9n = 113000
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Subtract and solve for "n"::
n = 7000 (amt. invested at 9%)
t = 12000 - 7000 = 5000 (amt. invested at 10%)
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Cheers,
Stan H.
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Answer by Gerwally(2) (Show Source):
You can put this solution on YOUR website! If x=amount invested at 10%, then 12,000-x=amount invested at 9%
Then .10x + .09 (12,000-x) = 1130
.10x + 1080 - .09x = 1130
.01x. = 1130 - 1080
.01x = 50
X = 5000
12,000 - 5000 = 7000
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