if x dollars are invested at 10 percent for one year and y dollars are invested at 8% for one year, the annual income from the 10% will exceed the annual income from 8% in 56 dollars. if the total invested was 2000, how much was invested in both of them?
OA: 892 and 1,108
dollar invested
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if x dollars are invested at 10 percent for one year and y dollars are invested at 8% for one year, the annual income from the 10% will exceed the annual income from 8% in 56 dollars. if the total invested was 2000, how much was invested in both of them?
======================
PTR/100  ptr/100 = 56
(2000x)*1*10/100  x*1*8/100 = 56
(2000x)*10  8x = 5600
20000  5600 = 18x
=> x = 14400/18 = 800
so y = 1200
why your OA is different, r u considering compound interest....
======================
PTR/100  ptr/100 = 56
(2000x)*1*10/100  x*1*8/100 = 56
(2000x)*10  8x = 5600
20000  5600 = 18x
=> x = 14400/18 = 800
so y = 1200
why your OA is different, r u considering compound interest....

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I ran the answers you provided and I came up with something else. I must be confused on the question. When you wrote "will exceed the annual income from 8% in 56 dollars," do you mean "by" $56? And are you asking how much was invested in each of them, rather than both?

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yup by 56mkbigmoz wrote:I ran the answers you provided and I came up with something else. I must be confused on the question. When you wrote "will exceed the annual income from 8% in 56 dollars," do you mean "by" $56? And are you asking how much was invested in each of them, rather than both?

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[spoiler]Lets consider the OA.
$892 was invested in Bank X at 10% interest for one year.
892 * 1.1 = 981.20
$1108 was invested in Bank Y at 08% interest for one year.
1108 * 1.08 = 1196.64
(1196.641108)  (981.20892) doesnt equal 56.
Can you explain how you came up with 56 with a spoiler, as to not ruin the question for others please? Thanks!
[/spoiler]
$892 was invested in Bank X at 10% interest for one year.
892 * 1.1 = 981.20
$1108 was invested in Bank Y at 08% interest for one year.
1108 * 1.08 = 1196.64
(1196.641108)  (981.20892) doesnt equal 56.
Can you explain how you came up with 56 with a spoiler, as to not ruin the question for others please? Thanks!
[/spoiler]
Last edited by mkbigmoz on Fri May 01, 2009 12:05 pm, edited 1 time in total.

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You're on the right track you just mixed up x & y. x is at 10% and y is at 8%.maihuna wrote:if x dollars are invested at 10 percent for one year and y dollars are invested at 8% for one year, the annual income from the 10% will exceed the annual income from 8% in 56 dollars. if the total invested was 2000, how much was invested in both of them?
======================
PTR/100  ptr/100 = 56
(2000x)*1*10/100  x*1*8/100 = 56
(2000x)*10  8x = 5600
20000  5600 = 18x
=> x = 14400/18 = 800
so y = 1200
why your OA is different, r u considering compound interest....
so it should be
(2000  y).10  .08y = 56
200.10y.08y = 56
.18y = 144
y = 800
x = 1200
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