SOLUTION: Investing. John invests twice as much money at 6% as he does 5%. If his investments earn a total of $680 in 1 year, how much does he have invested at each rate?

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Question 54319: Investing. John invests twice as much money at 6% as he does 5%. If his investments earn a total of $680 in 1 year, how much does he have invested at each rate?
Found 2 solutions by jainenderkapoor, stanbon:
Answer by jainenderkapoor(61) (Show Source):
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Let us suppose that amount invested at 5% be = $100
then amount invested at 6% = $200
Now $100 invested at 5% for 1 year gives --- I = P*R*T/100
I = 100*5*1/100 = 5
AND $200 invested at 6% for 1 year gives
I = 200*6*1/100 = 12
Total Earning = 5 + 12 = 17

If total earning is 17 amount invested = 100
If total earning is 680 amount invested = 100 * 680/17 = 100*40 = $4000
And the amount invested at 5% is $4000 and at 6% is $8000

I hope that the solution is clear to you.
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Jainender Kapoor

Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website!
John invests twice as much money at 6% as he does 5%. If his investments earn a total of $680 in 1 year, how much does he have invested at each rate?
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Let amount invested at 5% be "x".
Interest on that money is 0.05x dollars
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Amount invested at 6% is "2x".
Interest on that money is 0.06(2x)=0.12x
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EQUATION:
0.05x + 0.12x = 680
0.17x=680
x=$4000 (Amount invested at 5%)
2x=$8000 (Amount invested at 6%)
Cheers,
Stan H.