Question 518892: Interest in the amount of $1785 is earned in accounts bearing 6.5% and 7.5% simple interest. If the total amount invested was %25,000, how much was invested in the account bearing 6.5%?
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! Investment I 6.50% per annum ---x
Investment II 7.50% per annum ---y
x + y= 25000 ------------------------1
6.50% x + 7.50% y= = $1,785.00
Multiply by 100
6.5 x + 7.5 y= = $178,500.00 --------2
Multiply (1) by -6.5
we get
-6.5 x -6.5 y= = -162500.00
Add this to (2)
y=$16,000.00 investment at 7.50%
Balance $9,000.00 investment at 6.50%
CHECK
$9,000.00 --------- 6.50% ------- $585.00
$16,000.00 ------- 7.50% ------- $1,200.00
Total -------------- $1,785.00
m.ananth@hotmail.ca
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