In an economy, C = 300 + 0.87 and I = 500

In an economy, C = 300 + 0.87 and I = 500
(where, C = Consumption, Y = Income and I = Investment). Calculate the following:
(i) Equilibrium level of income.
(ii) Consumption expenditure at equilibrium level of
income.

(i) Here, I = 500, C = 300 + 0.8Y
Now, we know that, Y = C + I
or Y = 300+0.8Y + 500
or Y -0.8Y = 800
or 0.2Y= 800
Y =800/0.2 = 4000
(ii) We know that, Y=C+I
or 4000= C + 500
So, C = 4000 - 500 = 3500