How much was invested at each rate?

Mathematics
Tutor: None Selected Time limit: 1 Day

You invested $6000 in two stocks paying 9% and 6% annial interest, respectively. At the end of the year, the total interest from these investments was $480. How much was invested a each rate?

Mar 20th, 2015

let the amount invested in first stock is $x and second stock is $(6000-x)

x*9*1/100 + (6000-x)*6*1/100 = 480

9x/100 + (36000-6x)/100 = 480

(9x + 36000 - 6x)/100 = 480

9x+36000-6x = 480*100

3x+36000=48000

3x=48000-36000

3x = 12000

x = 4000

first stock = $4000

second stock = 6000-4000 = $2000

Mar 20th, 2015

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