An executive invests $26,000, some at 8% and some at 6% annual interest. if he receives an annual return of $1,860, how much is invested at each rate?

Suppose that executive decides to invest X Dollars on the 8% annual interest investment. so that means that he would invest the remaining money on investment with 6% annual interests, which is = (26,000-X)

Total annual return he will get on 8% annual interest investment would be: X/100*8

Total annual return he will get on 6% annual interest investment would be: (26,000-X)*6 /100

We know that total annual return he got was $1,860 which is the sum of annual return of both the investments.

So: X*8/100 + (26,000-X)*6/100 = 1860

We now have a equation with only one variable X and we can find its value by solving this simple equation.

1860= 8X/100 + (26,000-X)*6/100

1860 = 8X/100+ 156000-6X/100

1860 = (8X+ 156000-6X)/100

186000 = 2X + 156000

186000 - 156000 = 2X

30000 = 2X

30000/2 = X

15000 = X

so X= 15000 and Y= 26000-15000 which is 11,000.

Executive invests 15,000 on the 8% annual interest investment and He invests 11,000 on the 6% investment.

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