Answer:
600 was invested at 8% and $400 at 5%
Step-by-step explanation:
Let x represent the amount of $ invested at 8% and y the amount at 5%.
Then x + y = $1000 is the total investment. Therefore, y = 10000 - x
Interest earned is then:
0.08x + 0.05(y) = 68, or (after substitution)
0.08x + 0.05(1000) - 0.05x = 68
0.08x + 50 - 0.05x = 68, or
0.03x = 18. Dividing both sides by 0.03, we find that x = 18/0.03 = 600.
If x = $600, then y = $1000 - $600 = $400.
$600 was invested at 8% and $400 at 5%.
