Question

Shanelle invested $10,000, and at the end of one year, she received $805 in interest. She invested part of the money in an account earning 10% simple interest and the remaining money in an account earning 7%simple interest. How much did she invest in each account?

Answer 1

Step-by-step explanation:

Let the first part be x. Then,

the second part will be (10000-x).

So, According to question,

(10% of x) + { 7% of (10000-x)} = 805

(10/100*x) +{7/100*(10000-x)} = 805

(x/10) + (70000-7x/100) = 805

Then,

We will take the lcm of 10 and 100 which is 100 and then add both the fractions.

Solution:

10x + 70000-7x/ 100 = 805

3x + 70000/100 = 805

3x + 70000 = 805*100

3x + 70000 = 80500

3x = 80500-70000

3x = 10500

x = 10500/3

x = 3500

So the first part is 3500.Then,

the second part will be (10000-3500)

= 6500

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