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PS - Question 55.3.12

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by maxxwe11 » Thu Sep 17, 2009 6:58 pm
Some more:

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

Thanks !
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by viju9162 » Thu Sep 17, 2009 10:37 pm
Is the answer "B". My understanding is as follows:

10% (X) - 8% (Y) = 56

X + Y = 2,000

After solving, we get Y = 800
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by aa2kash » Fri Sep 18, 2009 2:43 am
Answer is B as explained above.
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