SOLUTION: Deshi invested $32,000. He invested part of it at 8% interest per year and the rest at 6% interest per year. If his total interest income for the year was $2120, ow much was inve
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Question 426469: Deshi invested $32,000. He invested part of it at 8% interest per year and the rest at 6% interest per year. If his total interest income for the year was $2120, ow much was invested at 6%?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 6.00% per annum
Part II 8.00% per annum
x+y=32000 ------------------------1
6.00%x+8.00%y=$2,120.00
Multiply by 100
6x+8y=$212,000.00 --------2
Multiply (1) by -6
we get
-6x-6y= -192000
Add this to (2)
2y=$20,000.00
divide by 2
investment at 8.00% $10,000
Balance $22,000.00 investment at 6.00%
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