Question

2) A total of $27,000 was invested; part of it at 10% and part of it at 12%. The total yield was $2990. How much was invested at each rate?

Answer 1

A total of $27,000 was invested; part of it at 10% and part of it at 12%. The total yield was $2990. How much was invested at each rate?​

Let

x -----> amount invested at 10%

(27,000-x) -----> amount invested at 12%

we have that

0.10(x)+0.12(27,000-x)=2990 ------> equation A

solve for x

0.10x+3,240-0.12x=2,990

0.12x-0.10x=3,240-2,990

0.02x=250

x=$12,500

so

27,000-x=27,000-12,500=$14,500

therefore

amount invested at 10% ----> $12,500

amount invested at 12% -----> $14,500