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?

Question

Mathematics

Chamberlain

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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Answers (1)

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Destinee Hunt · Answer 1

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