Question 1108639: If $50,000 is invested part at 9% and the rest at 12%, and the interest from one year is $4,800. How much was invested at 12%? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested @ 9% = amount invested @ 12%
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Let = interest for 1 yr from 9% investment = interest for 1 yr from 12% investment
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Use simple interest formula
(1)
(1)
and
(2)
(2)
(2)
(2)
(2)
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( 1 )
Plug (1) into (2)
(2)
(2)
(2)
(2)
and
(1)
(1)
and
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$10,000 was invested @ 12%
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check:
(1)
(1)
(1)
and
(2)
(2)
(2)
(2)
OK
