A Woman Invested 5 Times As Much At 6% As She Did At 12%. The Total Amount Of Interest She Earns In 1 Year From Both Accounts Is $420. How Much Did She Invest At Each Rate?
Answer:
Let x be the amount invested at the 12% rate.
(5x)6% + (x)12% = $420
(x)(30% + 12%) = $420
x = $420/42% = $420/.42 = $1000
5x = $5000
The woman invested $5000 at 6% and $1000 at 12%.
Check
6% of $5000 + 12% of $1000 = $300 + $120 = $420
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