SOLUTION: A man has invested $8000, part of 10% and the remainder at 6% simple interest. how much has he invested at each rate if his annual income from these investments is $536
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Question 750078: A man has invested $8000, part of 10% and the remainder at 6% simple interest. how much has he invested at each rate if his annual income from these investments is $536
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 10.00% per annum ------------- Amount invested =x
Part II 6.00% per annum ------------ Amount invested = y
8000
Interest----- 536.00
Part I 10.00% per annum ---x
Part II 6.00% per annum ---y
Total investment
x + 1 y= 8000 -------------1
Interest on both investments
10.00% x + 6.00% y= 536
Multiply by 100
10 x + 6 y= 53600.00 --------2
Multiply (1) by -10
we get
-10 x -10 y= -80000.00
Add this to (2)
0 x -4 y= -26400
divide by -4
y = 6600
Part I 10.00% $ 1400
Part II 6.00% $ 6600
CHECK
1400 --------- 10.00% ------- 140.00
6600 ------------- 6.00% ------- 396.00
Total -------------------- 536.00
m.ananth@hotmail.ca
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