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John inherited $25000 and invested part of it in a money market account, part in municipal bonds, and part in a mutual fund. After one year, he received a total of $ 1620 in simple interest from the three investments. The money market paid 6% annually, the bonds paid 7% annually, and the mutual funds paid 8% annually. There was $ 6000 more invested in the bonds than the mutual funds. The amount John invested in each category are in the ratio:
  • a)
    15 : 8 : 2
  • b)
    11 : 13 : 1
  • c)
    2 : 2 : 1
  • d)
    None of these
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
John inherited $25000 and invested part of it in a money market accoun...
Let
x = The amount of money invested in the money market account.
y = The amount of money invested in municipal bonds.
z = The amount of money invested in a mutual fund.
 
x+y+z = 25000    (1)
0.06x+0.07+0.08z = 1620  (2)
y-z = 6000   (3)
 
solve for x, y and z using any method from substitution, elimination or cross multiplication
 
 Answer is  $15,000 is invested in the monkey market account, $8,000 is invested in the municipal bonds, and $2,000 is invested in mutual funds. 
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John inherited $25000 and invested part of it in a money market accoun...
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John inherited $25000 and invested part of it in a money market account, part in municipal bonds, and part ina mutual fund. After one year, he received a total of $ 1620 in simple interest from the three investments. The moneymarket paid 6% annually, the bonds paid 7% annually, and the mutual funds paid 8% annually. There was $ 6000more invested in the bonds than the mutual funds. The amount John invested in each category are in the ratio:a)15 : 8 : 2b)11 : 13 : 1c)2 : 2 : 1d)None of theseCorrect answer is option 'A'. Can you explain this answer?
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John inherited $25000 and invested part of it in a money market account, part in municipal bonds, and part ina mutual fund. After one year, he received a total of $ 1620 in simple interest from the three investments. The moneymarket paid 6% annually, the bonds paid 7% annually, and the mutual funds paid 8% annually. There was $ 6000more invested in the bonds than the mutual funds. The amount John invested in each category are in the ratio:a)15 : 8 : 2b)11 : 13 : 1c)2 : 2 : 1d)None of theseCorrect answer is option 'A'. Can you explain this answer? for Class 10 2025 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about John inherited $25000 and invested part of it in a money market account, part in municipal bonds, and part ina mutual fund. After one year, he received a total of $ 1620 in simple interest from the three investments. The moneymarket paid 6% annually, the bonds paid 7% annually, and the mutual funds paid 8% annually. There was $ 6000more invested in the bonds than the mutual funds. The amount John invested in each category are in the ratio:a)15 : 8 : 2b)11 : 13 : 1c)2 : 2 : 1d)None of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 10 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for John inherited $25000 and invested part of it in a money market account, part in municipal bonds, and part ina mutual fund. After one year, he received a total of $ 1620 in simple interest from the three investments. The moneymarket paid 6% annually, the bonds paid 7% annually, and the mutual funds paid 8% annually. There was $ 6000more invested in the bonds than the mutual funds. The amount John invested in each category are in the ratio:a)15 : 8 : 2b)11 : 13 : 1c)2 : 2 : 1d)None of theseCorrect answer is option 'A'. Can you explain this answer?.
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