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Question 53480: a person invested $10,000 .the greater part is invested at 6% and the remainer at 5% . the annual income from the greater part is $160 more than the annual income from the smaller part. what is the smaller part of this investment? i got $4,000 is this right
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A person invested $10,000 .the greater part is invested at 6% and the remainer at 5% . the annual income from the greater part is $160 more than the annual income from the smaller part. what is the smaller part of this investment?
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6% investment DATA:
Let amount invested be "x" ; Interest on this money is 0.06x
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5% investment DATA:
Amount invested at 5% is "10000-x" ; interest on this money is
0.05(10000-x) = 500-0.05x
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EQUATION:
Assuming that "x" yields the smaller amount you get the follows:
500-0.05x=0.06x+160
0.11x=340
x=$3090.91 (amount invested at 6%)
10000-x = $6909.09 (amount invested at 5%)
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ANOTHER EQUATION:
If you assume 10000-x is the
Assuming that "10000-x" yields the smaller amount you get:
0.06x=500-0.05x+160
0.11x=660
x=$6000
10000-x= $4000
Since the greater part is invested at 6% the 2nd equation
is the applicable equation.
Cheers,
Stan H.
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