How much was invested?

Question

$6300 is invested, part of it at 12% and part of it at 6%. For a certain year, the total yield is $564.00. How much was invested at each rate?

Answer 1

Simple interest: A = P ( 1+ rt)

 

let x = the amount invested at 12%

 

6300 + 564 = x ( 1 + 0.12) + (6300 - x) ( 1 + 0.06)