A man invests his savings in two accounts, one paying 6 percent and the other pa

ID: 1890207 • Letter: A

Question

A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is 748 dollars. How much did he invest at each rate?
Your answer is
total in the account paying 6 percent interest is
total in the account paying 10 percent interest is A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is 748 dollars. How much did he invest at each rate?
Your answer is
total in the account paying 6 percent interest is
total in the account paying 10 percent interest is

Explanation / Answer

Let the man invest $x in 10% account.

Then he invests $2x in lower-yielding account

Interest in 1 yesr = 2x*0.06 + x*0.1

Given interest = 748

So, 0.22x = 748

x = 3400

Thus, total investment in account paying 6% = $6800

total investment in account paying 10% = $3400 ANS.

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A man invests his savings in two accounts, one paying 6 percent and the other pa

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