Ask Question
28 May, 20:06

5000 is invested at 3% interest. How much money must be invested at 5% so that the total interest from the two investments is $275 after one year

+1
Answers (1)
  1. 28 May, 23:01
    0
    2,500 dollars

    Step-by-step explanation:

    They invest 5000 dollars at 3% interest for one year.

    The formula for Simple Interest is S. I. = P*R*T

    Where S. I. stands for Simple Interest, P stands for principal amount invested, R stands for Rate of interest (in decimals), T stands for Time (in years).

    So Simple interest will be S. I. = 5000 x (3/100) x 1 = 150 dollars.

    Similarly they want to invest some amount say M at 5% interest for one year, then simple interest would be S. I. = M x (5/100) x 1 = 0.05M dollars.

    They want total interest from two investments to be 275 dollars.

    So, 150 + 0.05M = 275

    0.05M = 275 - 150 = 125

    M = 125/0.05 = 12500/5 = 2,500 dollars.

    Hence, they invest 2,500 dollars at 5% interest.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “5000 is invested at 3% interest. How much money must be invested at 5% so that the total interest from the two investments is $275 after ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers