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13 April, 08:22

a total of $9500 is invested, part at 10% simple interest and part at 9%. if the total annual return from the two investments is $914.00, how much is invested at each rate?

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  1. 13 April, 08:42
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    a total of $9500 is invested, part at 10% simple interest and part at 9%

    if the total annual return from the two investments is $914.00

    Amount invested = 9500

    Total amount return means total yield = $914

    Let x amount is invested at 10% simple interest

    Interest for first part = 10 % times x = 0.10x

    Remaining part invested is 9500 - x

    Interest for remaining amount = 9% (9500 - x) = 0.09 (9500-x)

    Total interest yield is 914. Now we frame an equation

    0.10x + 0.09 (9500-x) = 914

    0.10x + 855 - 0.09x = 914 (combine like terms)

    0.01 x + 855 = 914 (subtract 855)

    0.01x = 59 (divide both sides by 0.01)

    So x = 5900

    $5900 is invested in 10% simple interest

    9500 - 5900 = $3600 is invested in 9% simple interest
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