SOLUTION: Sam invested $1950, part of it at 6% and the rest at 8% yearly interest. The yearly income on the 8% investment was $26 more than twice the income from the 6% investment. How much

Algebra ->  Systems-of-equations -> SOLUTION: Sam invested $1950, part of it at 6% and the rest at 8% yearly interest. The yearly income on the 8% investment was $26 more than twice the income from the 6% investment. How much       Log On


   

Question 1113747: Sam invested $1950, part of it at 6% and the rest at 8% yearly interest. The yearly income on the 8% investment was $26 more than twice the income from the 6% investment. How much did he invest at each rate?
Answer by ikleyn(52777) About Me  (Show Source):
You can put this solution on YOUR website!
.
1.   One equation setup 

    0.08*(1950-x) - 2*0.06*x = 26.


    Solve for x = the amount at 6%.


2.   Two equations setup. 

        x +       y = 1950
  2*0.06x -   0.08y =  -26.


    Solve for x and y.

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To see many other similar solved problems on investment,  look into the lesson
    - Using systems of equations to solve problems on investment
in this site.

You will find there different approaches  (using one equation or a system of two equations in two unknowns),  as well as
different methods of solution to the equations  (Substitution,  Elimination).

Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic  "Systems of two linear equations in two unknowns".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.