Question

Janet invested $10,000, part at 2% and part at 12%. if the total interest at the end of the year is $600, how much did she invested at 2%

Answer 1

Janet invested $6000 at 2 %.

Let x = amount invested at 2 %. Then 10 000 - x = amount invested at 12 %

interest at 2 % + interest at 12 % = 600

0.02x + 0.12(10 000 – x) = 600

0.02x + 1200 – 0.12x = 600

0.10x = 600

x = 600/0.10 = 6000