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16 January, 14:28

An amount of $700 is invested partly at 8% and partly at 10%. The yearly income from both investments is $64. The amount invested at 8% is k dollars. What is the value of k?

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  1. 16 January, 17:07
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    A8% is X

    10% is 700-X

    X (.08) +.10 (700-X) = 64

    .08x + 70-.10X=64

    -.02X+70=64

    -70=-70

    -.02x = - 6

    Divide by -.02

    X = 300

    Answer $300 was invested at 8%

    Check 300 times. 08 = 24. 700-300=400 times. 10 = 40 and 24+40=64
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