Solve the problem.
-A college student earned $5900 during summer vacation working as a waiter in a popular restaurant. The student invested part of the money at 10% and the rest at 6%. If the student received a total of $478 in interest at the end of the year, how much was invested at 10%?
A)$3100
B)$983
C)$2800
D)$2950

Question

Quizplus · Accepted Answer

The total interest earned from both investments is $478. Let x be the amount invested at 10%, and then $5900 - x is the amount invested at 6%. The interest from the first investment is 0.10x, and from the second investment is 0.06(5900 - x). The total interest is the sum of these two interests, which gives the equation: 0.10x + 0.06(5900 - x) = 478. Solving this equation for x gives x = $3100, which means $3100 was invested at 10%.

Solve the Problem. -A College Student Earned $5900 During Summer Vacation Working as Vacation