Roberto invested some money at 8\%, and then invested $\$ 2000$ more than twice this amount at $10 \%$. His total annual income from the two investments was $\$ 4120$. How much was invested at $10 \%$ ?
A) $\$ 3000$
B) $\$ 6000$
C) $\$ 28,000$
D) $\$ 30,000$

Question

Quizplus · Accepted Answer

Let the amount invested at 8% be $x$. Therefore, the amount invested at 10% is $2x + 2000$. The total income from these investments is given by $0.08x + 0.10(2x + 2000) = 4120$. Solving this equation for $x$ and then calculating $2x + 2000$ gives the amount invested at 10%, which is $\$ 30,000$.

Roberto Invested Some Money at 8\%, and Then Invested $2000\$ 2000$2000

Roberto Invested Some Money at 8\%, and Then Invested $\$ 2000$