SOLUTION: a sum of 20000 is invested, part at 10% and the remainder at 8%, find the amount invested at in each rate if the yearly income to the two investments is 1840

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Question 469086: a sum of 20000 is invested, part at 10% and the remainder at 8%, find the amount invested at in each rate if the yearly income to the two investments is 1840
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
x+y=20000 ------------------------1
10.00% x+8.00% y = $1,840.00
Multiply by 100
10x+8y= $184,000.00 --------2

Multiply (1) by -10
we get

-10x-10 y=-200000.00

Add this to (2)

-2y=-$16,000.00

divide by -2

y = $8,000.00 investment at 8.00%
Balance $12,000.00 investment at 10.00%