SOLUTION: Q: Lionel invested an amount of 20,000$ partly at the rate of 5% and partly at the rate of 8% interest per anum.If the total amount of interest at the end of one year is 1,420$,how
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Question 1032330: Q: Lionel invested an amount of 20,000$ partly at the rate of 5% and partly at the rate of 8% interest per anum.If the total amount of interest at the end of one year is 1,420$,how much was invested at 5% ? Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! Let x=amount invested at 5%,y=amount invested at 8%. We know that:
x+y=20000
.05x+.08y=1420
Multiplying through we get:
.08x+.08y=.08(20000)=1600
.05x+.08y=1420
.03x=1600-1420=180
x=18/.03=6000
y=140000!!!!!!
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