SOLUTION: Jaya has $16,000 to invest. She invests part of it in an account paying 6% simple interest and the rest in an account paying 7% simple interest. If her annual income is $1080, how
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Question 525500: Jaya has $16,000 to invest. She invests part of it in an account paying 6% simple interest and the rest in an account paying 7% simple interest. If her annual income is $1080, how much does she have invested in each account? Answer by Maths68(1474) (Show Source):
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She invests at 6% = x
She invests at 7% = 16000-x
Given
Total Amount invested = 16000
Total Annual income = 1080
(Amount invested at 6%) * (6%) + (Amount invested at 7%)( 7%)=Total income
x*6/100 + (16000-x)*7/100=1080
Multiply by 100 both sides
x*6 + (16000-x)*7=1080*100
6x+112000-7x=108000
-x=108000-112000
-x=-4000
Multiply by -1 both sides
x=4000
She invests at 6% = x = 4000
She invests at 7% = 16000-x = 16000-4000=12000
