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The Problem

$9500 is invested, part of it at 10% and part of it at 7%. For a certain year, the total yield is $842. How much was invested at each rate?

Answer provided by our tutors

$9500 is invested, part of it at 10% and part of it at 7%. For a certain year, the total yield is $842. How much was invested at each rate?

Solution:

10%: x

7%: 9500-x

So

10%x+7%(9500-x)=842

x=5900

So $5900 at 10% and $3600 at 7%

 

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