SOLUTION: A student inherited $5000. She invested part of it at 10% and the rest at 8%. If her total interest amounted to $460, how much did she invest at each rate?

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: A student inherited $5000. She invested part of it at 10% and the rest at 8%. If her total interest amounted to $460, how much did she invest at each rate?      Log On


   

Question 476439: A student inherited $5000. She invested part of it at 10% and the rest at 8%. If her
total interest amounted to $460, how much did she invest at each rate?
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Investment I 10.00% per annum
Investment II 8.00% per annum

x + y 5000 ------------------------1
10.00% x + 8.00% y = $460.00
Multiply by 100
10 x + 8 y = $46,000.00 --------2

Multiply (1) by -10
we get

-10 x -10 y = -50000.00

Add this to (2)

0 x -2 y = -$4,000.00

divide by -2

y = $2,000.00 investment at 8.00%
Balance $3,000.00 investment at 10.00%
CHECK
$3,000.00 $300.00
$2,000.00 $160.00
Total $460.00