Question 587433: a sum of 6500 is invested, part of it at 6% interest and the remainder at 11%. If the interest earned by the 6% investment is 150 less that the interest earned by the 11% investment, find the amount invested at 6% rate.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! a sum of 6500 is invested, part of it at 6% interest and the remainder at 11%. If the interest earned by the 6% investment is 150 less that the interest earned by the 11% investment, find the amount invested at 6% rate.
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6% interest: 0.06x dollars
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11% interest: 0.11(6500-x) dollars
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Equation:
0.06x + 150 = 0.11(6500-x)
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6x + 15000 = 11*6500 - 11x
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17x = 11*6500-15000
17x = 56500
x = $3323.53 (amt. invested at 6%)
6500-x = $3176.47 (amt. invested at 11%)
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Cheers,
Stan H.
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