SOLUTION: A woman has $450 invested, part at 2% and the remainder at 3% simple interest. How much is invested at each rate if the total annual income from these investment is $11?
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Question 667741: A woman has $450 invested, part at 2% and the remainder at 3% simple interest. How much is invested at each rate if the total annual income from these investment is $11?
....need your help plssss /.....
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 2.00% per annum ------------- Amount invested =x
Part II 3.00% per annum ------------ Amount invested = y
450
Interest----- 11
Part I 2.00% per annum ---x
Part II 3.00% per annum ---y
Total investment
x + y= 450 -------------1
Interest on both inveents
2.00% x + 3.00% y= 11
Multiply by 2
2 x + 3 y= 1100.00 --------2
Multiply (1) by -2
we get
-2 x -2 y= -900.00
Add this to (2)
0 x 1 y= 200
divide by 1
y = 200
Part I 2.00% $ 250
Part II 3.00% $ 200
CHECK
250 --------- 2.00% ------- 5.00
200 ------------- 3.00% ------- 6.00
Total -------------------- 11.00
m.ananth@hotmail.ca
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