Question

Rehman invests his summer earnings of $3050. He invests past of the money at 8%/year, and the rest at 7.5%/year. After 1 year, these investments earn 242$ in simple interest. How much did he invest at each rate?

Answer 1

Answer:

let he invest x part of earning at the rate of 8%

simple interest = P*T*R/100 = x*1*8/100 = 0.08x

His invest at the rate of 7.5% = 3050 - x

Again simple interest = P*T*R/100 = (3050 - x)*1*7.5/100 = 228.75 - 0.075x

N0w acc0rding to question

0.08x + 228.75 - 0.075x = 242

0.005x= 13.25

x = 2650

rehman invest 2650 at 8% per year

He invest (3050-2650) = 400 0n 7.5% per year

Step-by-step explanation: