Question

Last year, Ivan had $30,000 to invest. He invested some of it in an account that paid 6% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year. After one year, he received a total of $2560 in interest. How much did he invest in each account?
First account : ?
Second account : ?

Answer 1

Hi there

0.06x+0.10 (30000-x)=2560
Solve for x
0.06x+3000-0.1x=2560
0.06x-0.1x=2560-3000
-0.04x=−440
X=440/0.04
X=11000 invested at 6%

30000-11000=19,000 invested at 10%

Hope it helps