SOLUTION: two investments were made totaling 8800 dollars. for a certain year these investments yielded 1326 dollars in simple intrest. part of the 8800 was ivested at 14% and part at 16%. F
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Question 520672: two investments were made totaling 8800 dollars. for a certain year these investments yielded 1326 dollars in simple intrest. part of the 8800 was ivested at 14% and part at 16%. Find the amount invested in each rate Answer by Maths68(1474) (Show Source):
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Amount invested at 14% = x
Amount invested at 16% = 8800-x
Given
Total interest on both investments = 1326
14% * (x) + 16% * (8800-x) = 1326
14/100 * (x) + 16/100 * (8800-x) = 1326
Multiply by 100 both sides
14 * (x) + 16 * (8800-x) = 1326 * 100
14x + 140800-16x = 132600
-2x=132600-140800
-2x=-8200
-2x/-2=-8200/-2
x=4100
Amount invested at 14% = x = 4100
Amount invested at 16% = 8800-x = 8800-4100 = 4700
