SOLUTION: Molly has Php30000. She invests Php12000 at 15% and the rest at another rate. if her income at the end of the year is Php4860, at what rate did she invest the rest of her money?

Question 1003724: Molly has Php30000. She invests Php12000 at 15% and the rest at another rate. if her income at the end of the year is Php4860, at what rate did she invest the rest of her money?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Molly has Php30000. She invests Php12000 at 15% and the rest at another rate. if her income at the end of the year is Php4860, at what rate did she invest the rest of her money?
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Equations:
interest + interest = interest
0.15*12000 + x*18000 = 4860
Multiply thru by 100 to get::
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15*12000 + 1800000x = 486000
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1800000x = 306000
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x = 0.17 or 17%
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Cheers,
Stan H.
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