grandh01 wrote:A $500 investment and a $1,500
investment have a combined yearly
return of 8.5 percent of the total of the
two investments. If the $500
investment has a yearly return of 7
percent, what percent yearly return
does the $1,500 investment have?
(A) 9%
(B) 10%
(C) %10 5/8
(D) 11%
(E) 12%
8.5% interest earned on the total investment of $2000 = (8.5)/100 * 2000 = 170.
7% interest earned on the $500 investment = 7/100 * 500 = 35.
Interest earned on the remaining $1500 = 170-35 = 135.
Interest rate for the $1500 investment = 135/1500 * 100 = 9.
The correct answer is
A.
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