SOLUTION: A man has Rs.8000 which he wishes to invest in two enterprises so that his total income per year will be Rs.425. if one enterprise pays 5.5% annually and the other 5% annually, ho
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Question 680775: A man has Rs.8000 which he wishes to invest in two enterprises so that his total income per year will be Rs.425. if one enterprise pays 5.5% annually and the other 5% annually, how much must be invested in each.
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 5.50% per annum ------------- Amount invested =x
Part II 5.00% per annum ------------ Amount invested = y
8000
Interest----- 425
Part I 5.50% per annum ---x
Part II 5.00% per annum ---y
Total investment
x + 1 y= 8000 -------------1
Interest on both investments
5.50% x + 5.00% y= 425
Multiply by 100
5.5 x + 5 y= 42500.00 --------2
Multiply (1) by -5.5
we get
-5.5 x -5.5 y= -44000.00
Add this to (2)
0 x -0.5 y= -1500
divide by -0.5
y = 3000
Part I 5.50% $ 5000
Part II 5.00% $ 3000
CHECK
5000 --------- 5.50% ------- 275.00
3000 ------------- 5.00% ------- 150.00
Total -------------------- 425.00
m.ananth@hotmail.ca
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