Melanie invested $2600 at the beginning of 2001 in two different stocks, Ramanar corp and bakery brothers. Ramanar corp eared 6% simple interest for the year, while bakery brothers earned 9%. In total melanie earned $201 for the year. How much was invested in each stock

She invested $1100 in Ramanar corp and $1500 in bakery brothers.

Step-by-step explanation:

Let x represent the amount which she invested in Ramanar corp.

Let y represent the amount which she invested in bakery brothers.

Melanie invested $2600 at the beginning of 2001 in two different stocks, Ramanar corp and bakery brothers. This means that

x + y = 2600

The formula for determining simple interest is expressed as

I = PRT/100

Considering the investment at Ramanar corp,

P = $x

T = 1 year

R = 6℅

I = (x × 6 × 1)/100 = 0.06x

Considering the investment at bakery brothers,

P = $y

T = 1 year

R = 9℅

I = (y × 9 × 1)/100 = 0.09y

In total melanie earned $201 for the year. it means that

0.06x + 0.09y = 201 - - - - - - - - - -1

Substituting x = 2600 - y into equation 1, it becomes

0.06(2600 - y) + 0.09y = 201

156 - 0.06y + 0.09y = 201

- 0.06y + 0.09y = 201 - 156

0.03y = 45

y = 45/0.03

y = 1500

x = 2600 - y = 2600 - 1500

x = 1100

24 units

step-by-step explanation: