Question

An amount of $700 is invested partly at 8% and partly at 10%. The yearly income from both investments is $64. The amount invested at 8% is k dollars. What is the value of k?

Answer 1

A8% is X
10% is 700-X

X(.08)+ .10(700-X)= 64
.08x+ 70-.10X=64
-.02X+70=64
-70=-70
-.02x= -6
Divide by -.02
X= 300

Answer $300 was invested at 8%

Check 300 times .08= 24. 700-300=400 times .10 = 40 and 24+40=64