Question 613288
Let x = the amount to be invested at 13% and 2x = the amount to be invested at 8%.
The sum of the interests earned on these two amounts can be expressed as:
x(0.13)+2x(0.08) and this is to equal 1885 per annum, so you can write the equation needed to solve for x:
0.13x+0.16x = 1885 Simplify.
0.29x = 1885 Divide both sides by 0.29
x = 6,500 and 2x = 13,000
The person would need to invest 6,500 at 13% and 13,000 at 8% in order to earn 1,885 per annum.