SOLUTION: Sam invested $1950,part of it at 6% and the rest at 8%,yearly interest. The yearly income on the 8% investment was $6 more than twice the income from 6% investment. How much did he

Question 810366: Sam invested $1950,part of it at 6% and the rest at 8%,yearly interest. The yearly income on the 8% investment was $6 more than twice the income from 6% investment. How much did he invest at each rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Sam invested $1950,part of it at 6% and the rest at 8%,yearly interest. The yearly income on the 8% investment was $6 more than twice the income from 6% investment. How much did he invest at each rate?
let part I at 6% be x
Part II at 8% will be (1850-x)
Interest on 8% = 8%(1950-x)
Interest on 6% = 6%x
twice = 2*6%x
8%(1950-x)- 12%x=6
multiply by 100
8(1950-x)-12x=600
15600-8x-12x=600
20x=15600-600
20x=15000
x= 15000/20
x= 7500 @ 6%
balance at 8%
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