SOLUTION: sang has invested $48,000, part at 6% and the rest in a higher risk investment at 10%. How much did she invest at each rate to receive $4000 in interest after one year?
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: sang has invested $48,000, part at 6% and the rest in a higher risk investment at 10%. How much did she invest at each rate to receive $4000 in interest after one year?
Log On
Question 704662: sang has invested $48,000, part at 6% and the rest in a higher risk investment at 10%. How much did she invest at each rate to receive $4000 in interest after one year? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 6.00% per annum ------------- Amount invested =x
Part II 10.00% per annum ------------ Amount invested = y
48000
Interest----- 4000
Part I 6.00% per annum ---x
Part II 10.00% per annum ---y
Total investment
x + 1 y= 48000 -------------1
Interest on both investments
6.00% x + 10.00% y= 4000
Multiply by 100
6 x + 10 y= 400000.00 --------2
Multiply (1) by -6
we get
-6 x -6 y= -288000.00
Add this to (2)
0 x 4 y= 112000
divide by 4
y = 28000
Part I 6.00% $ 20000
Part II 10.00% $ 28000
