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
