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algebra

by klaud » Thu Mar 08, 2012 7:22 am
A total of 10,000 dollar was invested in two certificates of deposit at simple annual interest rates of 6 percent and 8 percent, respectively. if the total interest on the two certificates was 720 dollar at the end of one year, what fractional part of the 10,000 dollar was invested at the higher rate?

A. 3/8
b. 2/5
C. 1/2
D. 3/5
E. 3/4
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by LalaB » Thu Mar 08, 2012 8:00 am
x+y=10000
0.06x+0.08y=720 or 6x+8y=72000 =>3x+4y=36000

3x+4y=36000
x+y=10000

3x+4y=36000
3x+3y=30000
y=6000

6000/10000=3/5
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