Let x = # pounds at $1.16/lb
then 60lb - x = amount at $0.86/lb
Our equation becomes 1.16x + (60 - x)0.86 = 60 x $1
expanding, 1.16x + 51.6 - 0.86x = 60
combining, 0.3x = 8.4
solving, x = 28lb; then 60 - 28 = 32lb
Proof: 28lb x $1.16 + 32lb x $0.86 = 60lb x $1.00
32.48lb + 27.52lb = 60lb