Merry had $20,000to invest. She invested part of this money in bonds paying 10% annual simple interest and the rest of the money in a saving account giving 5%annual interest. At the end of the year she received $1,800 as extra income How much money did merry place in the savings account?

Question

Mathematics

Cole Henson

25 April, 17:51

Merry had $20,000to invest. She invested part of this money in bonds paying 10% annual simple interest and the rest of the money in a saving account giving 5%annual interest. At the end of the year she received $1,800 as extra income How much money did merry place in the savings account?

+2

Answers (1)

Know the Answer?

Fry · Answer 1

20,000-x (bonds 10%) = savings (5%) or

20,000-x=y

(x times 10%) + (y times 5%) = 1,800

x/10+y/20=1,800

y=20,000-x

x/10 + (20,000-x) / 20=1,800

multiply x/10 by 2/2 and add to get

2x/20 + (20,000-x) / 20=1,800

(2x+20,000-x) / 20=1800

(x+20,000) / 20=1800

multiply both sides by 20

x+20,000=36,000

subtract 20,000 from both sides

x=16,000

20,000-x=y

y=4,000

16,000 in bonds

4,000 in savings