PS - Question 55.3.12

[maxxwe11]

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 !

[viju9162]

Is the answer "B". My understanding is as follows:

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

X + Y = 2,000

After solving, we get Y = 800

[aa2kash]

Answer is B as explained above.