Question

Word Problem:
Jo invested part of her $8000 at 12% and part at 8%. If the annual investment income is $825, how much was invested at each rate?

Answer 1

total amount=$8000
total Income=$825
let the amount invested at rate 12%be x
then amount invested at 8% rate=8000-x
time period=1year
825=x*12/100+(8000-x)8/100
12x+64000-8x=82500
4x=18500
x=4625
let the amount invested at rate 12%=$4625
amount invested at 8% rate=8000-x=8000-4625=$3375