Question

An investment of ​$100 comma 000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned​ 8% interest, the second​ 6%, and the third​ 9%. Total interest from the investments was $ 7380. The interest from the first investment was 2 times the interest from the second. Find the amounts of the three parts of the investment.

Answer 1

Answer:

• $54000 was invested at​ 8% interest
• $36000 was invested at​ 6% interest
• $10000 was invested at​ 9% interest

Step-by-step explanation:

Total Investment = ​$100,000

The investment was split into three parts (say x, y and z)

• x+y+z=100000

Simple Interest = Principal X Rate/100 X Time

The first part of the investment earned​ 8% interest

Interest on the first part = 0.08x

The second part of the investment earned​ 6% interest

Interest on the second  part = 0.06y

The third part of the investment earned​ 9% interest

Interest on the third part = 0.09z

Total interest from the investments = $ 7380.

Therefore:

0.08x+0.06y+0.09z=7380

The interest from the first investment was 2 times the interest from the second.

0.08x=2 X 0.06y

0.08x=0.12y

Substituting we have:

0.12y+0.06y+0.09z=7380

0.18y+0.09z=7380

From 0.08x=0.12y

x=1.5y

Substituting x=1.5y into x+y+z=100000

1.5y+y+z=100000

2.5y+z=100000

z=100000-2.5y

Substituting z=100000-2.5y into 0.18y+0.09z=7380

0.18y+0.09(100000-2.5y)=7380

0.18y+9000-0.225y=7380

-0.045y=-1620

Divide both sides by -0.045

y=36000

Recall: x=1.5y

x=1.5 X 36000

x =54000

x+y+z=100000

54000+36000+z=100000

z=100000-(54000+36000)

z=10,000

Therefore:

• $54000 was invested at​ 8% interest
• $36000 was invested at​ 6% interest
• $10000 was invested at​ 9% interest