Today 4 friends went out for lunch. Their total bill was $24.80, including tax and gratuity. They decided to split the bill equa
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Answer:
The Amount invested at 7% interest is $12,855
The Amount invested at 6% interest = $1,102
Step-by-step explanation:
Given as :
The Total money invested = $13,957
Let The money invested at 7% = = $A
And The money invested at 6% = = $13957 - $A
Let The interest earn at 7% =
And The interest earn at 6% =
-
= $833.73
Let The time period = 1 year
Now,<u> From Simple Interest method</u>
Simple Interest =
Or, =
Or, =
And
=
Or, =
∵ -
= $833.73
So, -
= $833.73
Or, 7 A - 6 (13,957 - A) = $833.73 × 100
Or, 7 A - $83,742 + 6 A = $83373
Or, 13 A = $83373 + $83742
Or, 13 A = $167,115
∴ A =
i.e A = $12,855
So, The Amount invested at 7% interest = A = $12,855
And The Amount invested at 6% interest = ($13,957 - A) = $13,957 - $12,855
I.e The Amount invested at 6% interest = $1,102
Hence,The Amount invested at 7% interest is $12,855
And The Amount invested at 6% interest = $1,102 . Answer