SOLUTION: A man has two investments, one paying 5% annual interest and the other at 8%. The total annual income from the two investments is P 4,650. If the interest rates were interchanged,
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Question 1066863: A man has two investments, one paying 5% annual interest and the other at 8%. The total annual income from the two investments is P 4,650. If the interest rates were interchanged, the total annual income would be P 5,100. Find the amount invested. of each rate.
Found 2 solutions by josmiceli, Boreal:
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
(1)
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(2)
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(3)
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Now just swap the interest rates
(4)
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(5)
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(6)
========================
(3)
Use (1) and (2) to get:
(3)
---------------------------------
(6)
Use (4) and (5) to get:
(6)
---------------------------------
(3)
(6)
Multiply both sides of (3) by
Multiply both sides of (6) by
Subtract (6) from (3)
---------------------------------
(3)
(6)
------------------------------------
and
(3)
(3)
(3)
(3)
(3)
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P 45,000 is invested @ 5%
P 30,000 is invested @ 8%
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check:
(1)
(1)
(1)
and
(2)
(2)
(2)
and
(3)
(3)
(3)
OK
You can check and
the same way
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
x and y are the two amounts.
.05x+.08y=4650
.08x+.05y=5100
5x+8y=465000, multiplying by 100
8x+5y=510000
Multiply the top by -8 and the bottom by +5 to eliminate x
-40x-64y=-3720000
40x+25y=2550000
-39y=-1170000
y=P30000
5x+240000=465000
5x=225000
x=P45000
.05(45000)+.08(30000)=2250+2400=4650
.08(45000)+.05(30000)=3600+1500=5100
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