Question 91561
A TOTAL OF 27,000 IS INVESTED , PART OF IT AT 12% PART OF IT AT 13%. THE TOTAL INTEREST AFTER A YEAR IS 3,385 . HOW MUCH WAS INVESTED AT EACH RATE?
--------------
Let amount invested at 12% be "x"; amount of interest is 0.12x dollars
------------
Amount invested at 13% is 27000-x; amount of int is 0.13(27000-x)=3510-0.13x dollars
-----------------------------
EQUATION:
interest + interest = 3385
0.12x + 3510-0.13x = 3385
-0.01x = -125
x = $12,500 (amount invested at 12%)
27000-12500 = $14,500 (amount invested at 13%)
============
Cheers,
Stan H.