Question 1136546
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(1) Use logical reasoning and simple mental arithmetic, or formal algebra, to determine from the given information that $3700 was invested at 13% and $3500 was split between the 6% and 10% investments.<br>
(2) Find the income from the 13% investment:<br>
{{{0.13(3700) = 481}}}<br>
$481 of the total income was from the investment at 13%.<br>
(3) Determine the combined income from the 6% and 10% investments:<br>
{{{787-481 = 306}}}<br>
The total income from the 6% and 10% investments was $306.<br>
(4) Now here is a completely different method for determining how the $3500 was split between the 6% and 10% investments.<br>
All $3500 at 6% would produce income of $210; all at 10% would produce income of $350.<br>
The ratio in which the $3500 is split between the 6% and 10% investments is exactly determined by where the actual income lies between $210 and $350.<br>
350-210 = 140; 306-210 = 96; 96/140 = 24/35.<br>
$306 is 24/35 of the way from $210 to $350; this means 24/35 of the $3500 was invested at the higher rate.<br>
24/35 of $3500 = $2400 at 10%; the rest, $1100, at 6%.<br>
ANSWERS: $3700 at 13%; $2400 at 10%; $1100 at 6%.