Anonymous Anonymous Asked 10mths ago. A college student earned $8900 during summer vacation working as a waiter in a popular restaurant. Part was invested at 10% simple interest and the remainder at 6% simple interest. At the end of one year, the student had earned $674 interest. How much was invested at 10%?

Anonymous Anonymous Asked 10mths ago. A college student earned $8900 during summer vacation working as a waiter in a popular restaurant. Part was invested at 10% simple interest and the remainder at 6% simple interest. At the end of one year, the student had earned $674 interest. How much was invested at 10%?

Question
Algebra foundations
asked 2021-01-13
Anonymous Anonymous Asked 10mths ago.
A college student earned $8900 during summer vacation working as a waiter in a popular restaurant. Part was invested at 10% simple interest and the remainder at 6% simple interest. At the end of one year, the student had earned $674 interest. How much was invested at 10%?

Answers (1)

2021-01-14
If x is invested at 6%, then \(\displaystyle{8900}−{x}\) is invested at 10%.
The interest earned in one year is $674 so we can write:
\(\displaystyle{0.06}{x}+{0.10}{\left({8900}−{x}\right)}={674}\)
Solve for x:
\(\displaystyle{0.06}{x}+{890}−{0.10}{x}={674}\)
\(\displaystyle−{0.04}{x}+{89}={674}\)
\(\displaystyle−{0.04}{x}=−{216}\)
\(\displaystyle{x}={5400}\)
So, \(\displaystyle{8900}−{5400}=\${3500}\) was invested at 10%.
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