SOLUTION: Nora invest $800 that pays simple interest at the rate of 6% per annum and $1,200 that pay simple interest at the rate of 7% per annum what is her total annual interest on this two

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Nora invest $800 that pays simple interest at the rate of 6% per annum and $1,200 that pay simple interest at the rate of 7% per annum what is her total annual interest on this two      Log On


   

Question 1129955: Nora invest $800 that pays simple interest at the rate of 6% per annum and $1,200 that pay simple interest at the rate of 7% per annum what is her total annual interest on this two Investments?
Found 2 solutions by addingup, ikleyn:
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
We talk in terms of percentages and the meaning is not always clear. Percent comes from the Latin per centum, meaning per one hundred.
.
So when you make 6% you make 6 for every 100. So, 800 is 8 times 100, right? Well, if you multiply 6*8 is the same as if you multiply 0.06*800.
.
To make it easier, we take the % and bring it down to 1 by dividing the % by 100: 6 per 100 is the same as 0.06 per 1. Now that you have it down to 1, you can apply it to any number.
.
multiply 800*0.06 and multiply 1200*0.07
Add the products to get your answer

Answer by ikleyn(52832) About Me  (Show Source):
You can put this solution on YOUR website!
.
Nora highlight%28cross%28invest%29%29 invests $800 that pays simple interest at the rate of 6% per annum and $1,200
that highlight%28cross%28pay%29%29 pays simple interest at the rate of 7% per annum. What is her total annual interest on this two Investments?
~~~~~~~~~~~~~~~~~ 


Her total annual interest is  0.06*800 + 0.07*1200 = 48 + 84 = 132 dollars.