1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
wlad13 [49]
3 years ago
9

A man invests a total of $9,493in two savings accounts. One account yields 9% simple interest and the other 10% simple interest.

He earned a total of $930.80interest for the year. How much was invested in the 9% account?
Mathematics
1 answer:
Tju [1.3M]3 years ago
5 0

$ 1850 was invested in 9% account

<u>Solution:</u>

Given that  

Total amount invested by man in two saving accounts = $9493

Simple interest on one account =9%

Simple interest on second account = 10%

Total interest earned = $930.80

Need to determine amount invested in 9 % account.

Let assume amount invested in account where Simple Interest is 9% = x

And assume amount invested in account where Simple Interest is 10% = y

As total amount invested in two accounts is $9493

=> x + y = 9493      

=> y = 9493 - x                              ------(1)

\text { Simple Interest }=\frac{\text { Amount Invested } \times \text {rate of interest } \times \text {time}}{100}

\begin{array}{l}{\text { Simple interest when rate of interest is } 9 \%=\frac{x \times 9 \times 1}{100}=\frac{9 x}{100}} \\\\ {\text { Simple interest when rate of interest is } 10 \%=\frac{y \times 10 \times 1}{100}=\frac{10 y}{100}}\end{array}

As total interest earned = $930.80

\begin{array}{l}{\Rightarrow \frac{9 x}{100}+\frac{10 y}{100}=930.80} \\\\ {\Rightarrow 9 x+10 y=930.80 \times 100} \\\\ {\Rightarrow 9 x+10 y=93080}\end{array}

On substituting value of y from equation(1) in above equation , we get

9x + 10 (9493 – x) = 93080

=> 9x  + 94930 – 10x = 93080

=> -x = 93080 – 94930

=> -x = -1850

=> x = 1850  

Amount invested in account where Simple Interest is 9% = x  = $1850

Hence $1850 was invested in 9% account.

You might be interested in
If a rhombus is a square, then it is a rectangle ( True or False )
nirvana33 [79]
False i believeeee :p
6 0
2 years ago
Read 2 more answers
Devin, sebastian, carlos, and Federico completed a heist in GTA coming them $580,500. Devin carns 30%
AURORKA [14]

Answer:

174000

Step-by-step explanation:

6 0
3 years ago
Plz help me<br><br>Use the table chart and find out what the alitude of 5,000 feet.
mash [69]
The is (5000,59) and you can check this by doing this -0.004(5000)+79
6 0
3 years ago
What is 5x-4=36 in two step equation
leonid [27]

Hope it will help u........

8 0
3 years ago
Read 2 more answers
What ratios can we say are equivalent to 2:3?
Rzqust [24]
4:6
6:9
12:18
And it goes on
6 0
3 years ago
Other questions:
  • Helphelphelphelphelp​
    12·1 answer
  • | If f(x) = 7 + 4x and g(x)= 7, what is the value of (f/g)(5)
    8·2 answers
  • Jana is thinking of a number. If she divides her number by 12 and then multiplies the quotient by 8,the result is 520. What numb
    9·1 answer
  • For f (x) = 4x +1 and g(x) = x2-5, find
    10·1 answer
  • HELP QUICK!!!! JFKWOFKWKOFKECKEOVKEMKFMEKGONGKSIFNDKDKSKEKNFSW
    7·2 answers
  • Image should be below
    8·1 answer
  • 876 divided by 43 plz help
    8·1 answer
  • Question 2
    11·1 answer
  • I need help with this pls help pls show how you got it also
    15·1 answer
  • Calculate the slope of the line in the graphs and show your work
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!