Question

a total of $9500 is invested, part at 10% simple interest and part at 9%. if the total annual return from the two investments is $914.00, how much is invested at each rate?

Answer 1

a total of $9500 is invested, part at 10% simple interest and part at 9%

if the total annual return from the two investments is $914.00

Amount invested = 9500

Total amount return means total yield = $914

Let x amount  is invested at 10% simple interest

Interest for first part =  10 % times x = 0.10x

Remaining part invested is 9500 -x

Interest for remaining amount = 9% (9500 -x) = 0.09(9500-x)

Total interest yield is 914. Now we frame an equation

0.10x + 0.09(9500-x) = 914

0.10x +855 - 0.09x = 914 (combine like terms)

0.01 x + 855 = 914 (subtract 855)

0.01x = 59 ( divide both sides by 0.01)

So x = 5900

$5900 is invested in 10% simple interest

9500 - 5900 = $3600 is invested in 9% simple interest