SOLUTION: A sum of $2000 is split between two investments, one paying 7% interest and the other 8%. If the return on the 8% investment exceeds that of the 7% investment by $40 per year, how

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: A sum of $2000 is split between two investments, one paying 7% interest and the other 8%. If the return on the 8% investment exceeds that of the 7% investment by $40 per year, how      Log On


   

Question 161575: A sum of $2000 is split between two investments, one paying 7% interest and the other 8%. If the return on the 8% investment exceeds that of the 7% investment by $40 per year, how much is invested at each rate.
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let x= amount invested @ 7%
2000+-+x will be the amount invested @ 8%
.08%2A%282000+-+x%29+=+.07x+%2B+40
160+-+.08x+=+.07x+%2B+40
.15x+=+120
x+=+800
2000+-+x+=+1200
$800 was invested @ 7% and $1200 was invested @ 8%