Problema Solution
Sheila invested part of $3000 in a 10% certificate account and the rest in a 6% passbook account. The total annual interest from both accounts is $270. How much did she invest at 6%?
Answer provided by our tutors
Let she invested $x in 6% then her investment in 10% will be $(3000 - x).
So,
(3000 - x)*0.1 + x*0.06 = 270
300 - 0.1x + 0.06x = 270
300 - 0.04x = 270
0.04x = 300 - 270
0.04x = 30
4x = 3000
x = 750
So,
She invested $750 in 6% passbook account.