DawnSpring DawnSpring

24-11-2017
Mathematics

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Ruth borrowed $2000, part from each of two different sources, for a 6-month period. One charged 6% interest and the other 8% interest. When she paid them off, she paid a combined total of $68 in interest. How much did she borrow at each rate? Show how you got it

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Plasmataco Plasmataco

24-11-2017

X is 6% interest
Y is 8% interest

X+Y=2000 or 0.08X+0.08Y=160
0.06X+0.08Y=68*2
Subtract the two equations:
0.08X-0.06X+0.08Y-0.08Y=160-68*2
0.02X=92
X=1200
Y=800

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