$13,000 was invested at 6% whereas $7,000 was invested at 10% using simple interest approach
What is simple interest?
Simple interest is determined as the amount invested multiplied by the interest rate and the number of years that investment lasts.
I=PRT
I=interest
P=principal
R=rate of return
T=time
Let X be the amount invested at 6%
I at 6%=6%*X*1
I=0.06X
The amount invested at 10% is 20,000-X
total interest=0.06X+0.10*(20000-X)
total interest=1,480
1480=0.06X+0.10*(20000-X)
1480=0.06X+2000-0.10X
1480-2000=0.06X-0.10X
-520=-0.04X
X=-520/-0.04
X=13,000
13,000 was invested at 6%
amount invested at 10%=20,000-X
amount invested at 10%=20,000-13,000
amount invested at 10%=7,000
Find out more about simple interest on:brainly.com/question/20690803
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