$1045 was invested at the interest rate 6% whereas $1,995 was invested at 14%
How is interest computed?
Interest is determined as the amount invested multiplied by the interest rate.
Let Y be the amount invested at 6%
Interest=Y*6%
Interest=0.06Y
The amount invested at 14%, which is $950 more , is Y+950
Interest=(Y+950)*14%
Interest=0.14Y+133
Total interest =0.06Y+0.14Y+133
Note that total interest is 342
342=0.06Y+0.14Y+133
342=0.20Y+133
342-133=0.20Y
209=0.20Y
Y=209/0.20
Y=$1,045(amount invested at 6%)
Amount invested at 14%=$1,045+$950
Amount invested at 14%=$1,995
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