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Math

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A man invests his savings in two accounts, one paying 6% and the other paying 10% simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is $11000 dollars. How much did he invest at each rate?

  • Math -

    amount in lower rate --- 2x dollar
    amount at higher rate --- x dollars

    .06(2x) + .10x = 11000
    .12x + .10x = 11000
    .22x = 11000
    x = 11000/.22 = 50000

    so 50000 invested at 10% and
    100000 invested at 6%

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