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| Math Central | Quandaries & Queries |
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Question from georgia, a parent: if you invest 500$ at a 7% annum and the balance at a 10% annum and your interest earned is 44$ annum how much was invested in the 7% and how much in the 10%. |
Hi Georgia,
I think the question should read
If you invest 500$, some at a 7% annum and the balance at a 10% annum and your interest earned is 44$ annum how much was invested in the 7% and how much in the 10%.
Let d$ be the amount you invest at 7% then the amount you invest at 10% is 500$ - d$. After one year the d$ has earned 0.07 × d$ interest. How much interest do you earn from the investment at 10%? The total interest earned is 44$. Solve for d.
Penny
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