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Question 1151033: Sam invested $ 1750, part of it at 6% and the rest at 8% yearly interest. The yearly income on the 8% investment was $30 more than twice the income from the 6% investment . How much did he invest at each rate
Found 2 solutions by josmiceli, ikleyn:
Answer by josmiceli(19441)   (Show Source):
Answer by ikleyn(52787)  (Show Source):
You can put this solution on YOUR website! .
The correct answer is
$550 invested at 6%.
The rest, or $1750 - $550 = $1200, invested at 8%.
When you solve such problems, checking is NECESSARY part of the solution.
CHECK. 0.08*1200 - 20.06*550 = 30 dollars. ! Precisely correct !
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It is a standard and typical problem on investments.
If you need more details, or if you want to see other similar problems solved by different methods, 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.
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