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If x dollars is invested at 10 percent for one year and y

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If x dollars is invested at 10 percent for one year and y  [#permalink]

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New post 15 Oct 2006, 13:45
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Question Stats:

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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
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Re: If x dollars is invested at 10 percent for one year and y  [#permalink]

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New post 15 Oct 2006, 13:56
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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

y = 2000 - x


.1x - .08(2000-x) = 56

.-160+.18x = 56

x = 1200 and y = 800

my answer is B
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Re: If x dollars is invested at 10 percent for one year and y  [#permalink]

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New post 16 Oct 2006, 05:26
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

2% = 56
1% = 28
10% = 280
100% 2800

0.10x - 0.8y = 56
X + y = 2000
X = 2000 - Y

0.10 (2000 – Y ) – 0.8Y = 56

200 – 0.10Y – 0.8Y = 56

-0.18Y = -144

Y = 800
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Re: If x dollars is invested at 10 percent for one year and y  [#permalink]

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New post 03 Aug 2014, 14:52
lfox2 wrote:
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

2% = 56
1% = 28
10% = 280
100% 2800

0.10x - 0.8y = 56
X + y = 2000
X = 2000 - Y

0.10 (2000 – Y ) – 0.8Y = 56

200 – 0.10Y – 0.8Y = 56

-0.18Y = -144

Y = 800


It should be 0.08 (8%) rather than 0.8 (80%)
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Re: If x dollars is invested at 10 percent for one year and y  [#permalink]

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New post 01 Oct 2015, 16:21
3
Hi All,

While this is an old prompt, it can be solved by TESTing THE ANSWERS.

We're given a number of facts to work with:
1) $2,000 is invested in 2 different accounts.
2) The accounts pay 10% and 8% annual interest (calculated annually, for lack of any additional info)
3) After 1 year, the 10% account will generate $56 MORE than the 8% account.

We're asked for the amount of money invested in the 8% account.

To start, we can do a simple, hypothetical calculation. If we invested $1,000 in each account....
10% of $1,000 = $100
8% of $1,000 = $80
....then the difference would be $20. This is TOO SMALL (it's supposed to be $56), thus MORE than $1,000 is invested at 10% and LESS is invested at 8%. Eliminate Answers D and E.

Among the 3 remaining Answers, let's TEST Answer B: $800

IF....$800 is invested in the 8% account....
10% of $1200 = $120
8% of $800 = $64
...then the difference would be $56, which is an exact MATCH for what we were told. So this MUST be the answer.

Final Answer:

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Re: If x dollars is invested at 10 percent for one year and y  [#permalink]

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New post 19 May 2017, 10:27
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Re: If x dollars is invested at 10 percent for one year and y &nbs [#permalink] 19 May 2017, 10:27
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