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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Mathematics

6 February, 15:00

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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Gates · Answer 1

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