Mr.X invests TK. 2400 in the Moder4n Bank at 5%. How much additional money must he invest at 8% so that the total annual income will be equal to 6% of his entire investment?

Mr.X invests TK. 2400 in the Moder4n Bank at 5%. How much additional money must he invest at 8% so that the total annual income will be equal to 6% of his entire investment? Correct Answer TK.1200

We can let x = the amount of money invested at 8%, making her entire investment equal to (2,400 + x). We can create the following equation: 0.05(2,400) + 0.08x = 0.06(2,400 + x) = > 120 + 0.08x = 144 + 0.06x = > 0.02x = 24 = > 2x = 2400 ∴x = 1,200 
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