Question 85253

Let x=amount invested at 11%
Then 10,000-x=amount invested at 8%

Interest (I)=Principal(P)*Rate(R)*Time(T) --here T=1

Interest earned at 11%=0.11x
Interest earned at 8%=0.08(10,000-x)

Now we are told that:

0.08(10,000-x)+530=0.11x  get rid of parens

800-0.08x+530=0.11x  add 0.08x to both sides

800-0.08x+0.08x+530=0.11x+0.08x  collect like terms

1330=0.19x  divide both sides by 0.19

x=7000---------------------amount invested at 11%

10,000-x=10,000-7000=3000----------------amount invested at 8%


CK

0.08(3000)+530=0.11(7000)
240+530=770
770=770


Hope this helps----ptaylor