SOLUTION: After winning the lottery, Adonar decided to invest P5,000,000. a portion of the money will be invested on a real estate business which gives a 12% annual interest and the rest on

Question 772962: After winning the lottery, Adonar decided to invest P5,000,000. a portion of the money will be invested on a real estate business which gives a 12% annual interest and the rest on a food business which gives a 15% annual interest. If he expects an annual income of P660,000, how much should be invested on a real estate business?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Real Estate 12.00% per annum ------------ Amount invested = y
5000000
Interest----- 660000.00

Food business 15.00% per annum ---x
Real Estate 12.00% per annum ---y
Total investment
x + 1 y= 5000000 -------------1
Interest on both investments
15.00% x + 12.00% y= 660000
Multiply by 100
15 x + 12 y= 66000000.00 --------2
Multiply (1) by -15
we get
-15 x -15 y= -75000000.00
Add this to (2)
0 x -3 y= -9000000
divide by -3
y = 3000000
Food business 15.00% $ 2,000,000
Real Estate 12.00% $ 3,000,000

CHECK
2000000 --------- 15.00% ------- 300000.00
3000000 ------------- 12.00% ------- 360000.00
Total -------------------- 660,000.00

RELATED QUESTIONS
Invest $30,000 in a special package of bonds, stocks, and real estate and we guarantee... (answered by ewatrrr,ikleyn)

Jake has decided to invest in three business ventures. The total cost of investing in all (answered by mananth)

1. The winning number of a lottery is a three-digit number between 000 and 999. (answered by ikleyn)

A group of workers won the lottery and will each walk away with $10 000. Fred, one of the (answered by jim_thompson5910,addingup)

A lottery has a $ 2 000 000 first prize, a $ 250 000 second prize, and a three $5000... (answered by math_tutor2020,ikleyn)

If money is invested at r percent interest, compounded annually, the amount of the... (answered by Theo)

Lottery Ticket. In a bin are an equal number of balls marked with the digits 1-9. Three... (answered by stanbon)

Rami decided to invest $9,000 in his account. After 16 years, the amount of money turned... (answered by josgarithmetic,ikleyn,MathTherapy)