Manuel has budgeted $80 a day to rent a truck. The rental
2 answers:
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Answer:
The amount invested at 10% rate is $ 2200
Step-by-step explanation:
Given as :
The total amount earn by student = $6500
The total interest received at the end of year = $607
Let the amount invested at 10% rate = $x
So, The amount invested at 9% rate = ($6500 - $x)
Let the time for which money invested = 1 year
<u>Now from Simple Interest method :</u>
SI =
Or, SI_1 + SI_2 = +
Or, SI_1 + SI_2 =
Or, $607 × 100 = 10x + (6500-x) × 9
Or, $60700 = 10x- 9x + 58500
Or, $60700 - $58500 = x
Or , 2200 = x
∴ x = 2200
So, The amount invested at 10% rate = $x = $ 2200
Hence The amount invested at 10% rate is $ 2200 Answer