If x dollars is invested at 10 percent for one year and y dollars is invested at 8 percent for one year, the annual income from the 10 percent investment will exceed the annual income from the 8 percent investment by $56. If $2,000 is the total amount invested, how much is invested at 8 percent?
A) 280
B) 800
C) 892
D) 1,108
E) 1,200
Explanation is needed.
OA B
This is how I did..
1.1x - 1.08y = 56
x + y = 2,000
But no answer is found.
This question is a retired paper test (official one).
A) 280
B) 800
C) 892
D) 1,108
E) 1,200
Explanation is needed.
OA B
This is how I did..
1.1x - 1.08y = 56
x + y = 2,000
But no answer is found.
This question is a retired paper test (official one).
