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A man invests a part of 10,000 at 5% and...

A man invests a part of 10,000 at 5% and the remainder at 6%. The 5% Investment yields annu ally 76.50 more than the 6% investment. The amount invested at 6% is

A

3600

B

3550

C

3850

D

4000

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we will first define the variables and then set up the equations based on the information given in the question. ### Step-by-Step Solution: 1. **Define Variables**: Let \( x \) be the amount invested at 5%. Therefore, the amount invested at 6% will be \( 10,000 - x \). **Hint**: Start by defining what you know and what you need to find. 2. **Calculate Interest from Investments**: The interest earned from the investment at 5% can be calculated as: \[ \text{Interest at 5%} = \frac{5}{100} \times x = 0.05x \] The interest earned from the investment at 6% is: \[ \text{Interest at 6%} = \frac{6}{100} \times (10,000 - x) = 0.06(10,000 - x) \] **Hint**: Remember that interest is calculated as the principal amount multiplied by the rate of interest. 3. **Set Up the Equation**: According to the problem, the interest from the 5% investment is $76.50 more than the interest from the 6% investment: \[ 0.05x = 0.06(10,000 - x) + 76.50 \] **Hint**: Translate the word problem into a mathematical equation. 4. **Expand and Rearrange the Equation**: Expanding the right side gives: \[ 0.05x = 600 - 0.06x + 76.50 \] Combine like terms: \[ 0.05x + 0.06x = 676.50 \] This simplifies to: \[ 0.11x = 676.50 \] **Hint**: Make sure to combine like terms carefully. 5. **Solve for \( x \)**: Now, divide both sides by 0.11 to find \( x \): \[ x = \frac{676.50}{0.11} = 6150 \] **Hint**: When solving for a variable, isolate it on one side of the equation. 6. **Calculate the Amount Invested at 6%**: Now that we have \( x \), we can find the amount invested at 6%: \[ \text{Amount at 6%} = 10,000 - x = 10,000 - 6150 = 3850 \] **Hint**: Use the total amount to find the remainder after calculating one part. ### Final Answer: The amount invested at 6% is **$3850**.
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