WORD PROBLEM

Question

an actor invests some money at 9%, and 2600 more than twice the amount at 10%. The total annual interest earned from the investment is 29570. How much did he invest at each amount?

Answer 1

Let x = amount at 9%. This makes the amount at 10% to be represented as 2x + 2600.

The combined interest can then be represented as .09x + .10(2x + 2600) = 29570.

 

.09x + .2x + 260 = 29570

.29x                     = 29310

    x                       = 101069 approximately 

 

Let's check

9% of 101069 = 9096.21

10% of 204738 = 20473.80

Add them together and get 29570.01 pretty close for an rounded off answer.