I have $1000 to Invest. I Invested part of it at 8% and the part of it at 6%. IF my total simple interest is $76.00, how much did I invest for 1yr at each rate.

Question

slaaibak · Answer

You invested $x at 8%
You invested $(100-x) at 6%

formula for simple interest:  A = P(1+in)

I believe you should be able to do it now

anonymous · Answer

ok lemmi try

slaaibak · Answer

Sorry that should be: $(1000-x) at 6%

I skipped a zero there

anonymous · Answer

(1000-x)*8%+x*6%=76
solve to get x and you wil have the answer

anonymous · Answer

76=0.08x+0.06y
$1000+x+y

Can this also work?

anonymous · Answer

Most investment questions ask what is the interest, but this one is throwing me off cause the interest is already given.

anonymous · Answer

nope upper equation u mentiooned can work lower one can not

anonymous · Answer

ok