Problem 11 - Entrance Test

Question

John invests x dollars at 8% simple interest per year and Mary invests y dollars at 10% simple interest per year. If their combined annual interest is $640, which of the following equations represents this situation?

Accepted Answer

0.08x + 0.10y = 640

Answer

0.8x + 0.1y = 640

Answer

8x + 10y = 640

Answer

0.18(x + y) = 640

Answer

0.08x + 0.1y = 64