Question

Part of $20,000 was invested at 5% and the rest at 8%, both at simple interest. At the end of 2 years, the total income from both investments was $2,720. How much was invested at 5%?

Answer 1

consider x portion on 5%
so after 2 years its x*2*5/100
and rest is 20000-x on 8%
so after 2 years (20000-x)*2*