SOLUTION: A sum of $2,450 is invested, part of it at 11% interest and the remainder at 14%. If the interest earned by the 14% investment is $100 more than the interest earned by the 11% inve
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Question 497529: A sum of $2,450 is invested, part of it at 11% interest and the remainder at 14%. If the interest earned by the 14% investment is $100 more than the interest earned by the 11% investment, find the amount invested at each rate.
You can put this solution on YOUR website! Part I 11.00% per annum ------------- x
Part II 14.00% per annum ------------ y
total investment 2450
Interest----- 11.00% x
Interest = 14.00% y greater by 100
11.00% x = 14.00% y + 100
multiply by 100
11 x - 14 y = 10000 --------1
x + y = 2450 -------- 2
eliminate y
Multiply 1 by 1
Multiply 2 by 14
we get
11 x -14 y = 10000
14 x +14 y = 34300
25 x = 44300
/ 25
x= 1772
Plug the value of x in in 1
19492 -14 y = 10000
-14 y = 10000 -19492
-14 y = -9492
/ -14
y= 678
$ 1772 at 11.00%
$ 678 at 14.00%
