Question

Question: 53 of 63:

Lisa invests $4,000 in two types of bonds: X, which offers a 10% return, and Y, which offers a 6% return. If the combined return on the investment is $300, how much did Lisa invest at the rate of 6%?

Select one of the options below as your answer:



A.
$3,000




B.
$2,500




C.
$1,500




D.
$500

Answer 1

Lisa invests $4,000 in two types of bonds: X, which offers a 10% return, and Y, which offers a 6% return. If the combined return on the investment is $300, how much did Lisa invest at the rate of 6%?

Let X be amount invested in the 10%.
Amount invested in 6% = 4000 - X

Thus,
Return for 10% = 0.1X

Thus,
Return for 6% = 0.06(4000-X)

Total Return = 300 = 0.1X + 0.06(4000-X)
300 = 0.1X + 240 - 0.06X
60 = 0.04X
X = 60 / 0.04 = ????????

Answer 2

1500?