SOLUTION: A large corporation wants to invest 1,200000.00. Part of this amount is invested at 12.5 percent and part at 15%. If the total interest earnings should be 155 000.00 per year, ho

Question 681755: A large corporation wants to invest 1,200000.00. Part of this amount is invested at 12.5 percent and part at 15%. If the total interest earnings should be 155 000.00 per year, how much should be invested at 15% and how much as 12.5%
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 15.00% per annum ------------- Amount invested =x
Part II 12.50% per annum ------------ Amount invested = y
1200000
Interest----- 155000

Part I 15.00% per annum ---x
Part II 12.50% per annum ---y
Total investment
x + 1 y= 1200000 -------------1
Interest on both investments
15.00% x + 12.50% y= 155000
Multiply by 100
15 x + 12.5 y= 15500000.00 --------2
Multiply (1) by -15
we get
-15 x -15 y= -18000000.00
Add this to (2)
0 x -2.5 y= -2500000
divide by -2.5
y = 1000000
Part I 15.00% $ 200000
Part II 12.50% $ 1000000

CHECK
200000 --------- 15.00% ------- 30000.00
1000000 ------------- 12.50% ------- 125000.00
Total -------------------- 155000.00

m.ananth@hotmail.ca

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