SOLUTION: priyankaa invested $2000, part at 8% per annum and the rest at 10% per annum. After one year the total interest earned was $190. How much did she invest at each rate?
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-> SOLUTION: priyankaa invested $2000, part at 8% per annum and the rest at 10% per annum. After one year the total interest earned was $190. How much did she invest at each rate?
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Question 661854: priyankaa invested $2000, part at 8% per annum and the rest at 10% per annum. After one year the total interest earned was $190. How much did she invest at each rate? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! priyankaa invested $2000, part at 8% per annum and the rest at 10% per annum. After one year the total interest earned was $190. How much did she invest at each rate?
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Quantity Eq: x + y = 2000
Interest Eq:8x +10y = 19000
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Multiply thru the Quantity Eq by 8:
8x + 8y = 16000
8x +10y = 19000
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2y = 3000
y = $1500 (amt. of 10% investment)
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solve for "x":
x + y = 2000
x + 1500 = 2000
x = $500 (amt. of 8% investment)
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Cheers,
Stan H.
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