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A person invested $10000. the grater part is invested at 6% and the remainder at 5%. The annual income for the graterpart is $160more thsn the annual income from the smaller part . $4000 is the smaller part of the investment.
Solution
The annual income from the greater part invested at 6% is (10,000 - x) * 0.06 = 600 - 0.06x dollars.
The annual income from the smaller part invested at 5% is x * 0.05 = 0.05x dollars.
According to the problem, the annual income from the greater part is $160 more than the annual income from the smaller part.
So, we can set up the equation:
600 - 0.06x = 0.05x + 160
Simplifying the equation:
600 - 160 = 0.05x + 0.06x
440 = 0.11x
Dividing both sides of the equation by 0.11:
x = 440 / 0.11
x 4000
Added 7/12/2023 12:38:27 AM
This answer has been confirmed as correct and helpful.