Question 1147378
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As an alternative to the traditional algebraic solution method shown by the other tutor, here is a quick and easy way to find the answer to a "mixture" problem like this.<br>
(1) The overall profit 8% is 5/7 of the way from the 3% to the 10%. ({{{(8-3)/(10-3) = 5/7}}})
(2) That means 5/7 of the total amount was invested at the higher rate.
(3) So the $2000 invested at 3% was 2/7 of the total amount.
(4) So the amount invested at 10% was $5000.