SOLUTION: Eva invested a certain amount of money at 10% interest and $15oo more tahn that amount at 11%. Her total yearly interest was $795. How much did she invest at each rate?
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Question 135381: Eva invested a certain amount of money at 10% interest and $15oo more tahn that amount at 11%. Her total yearly interest was $795. How much did she invest at each rate? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Eva invested a certain amount of money at 10% interest and $15oo more tahn that amount at 11%. Her total yearly interest was $795. How much did she invest at each rate?
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Let amt. invested at 10% be "x"; interest on this is 0.10x dollars
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Amt. invested at 11% is "x+1500"; interest is 0.11(x+1500)=0.11x+165 dollars
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EQUATION:
interest + interest = 795 dollars
0.10x + 0.11x+165 = 795
0.21x = 630
x = $3000 (amt. invested at 10%)
x+1500 + $4500 (amt. invested at 11%)
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Cheers,
Stan H.
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