SOLUTION: Mrs. Lim invested two equal amounts of money, one at 4% and the other at 6%. Her yearly interest was P800. How much did she invest at each rate?

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: Mrs. Lim invested two equal amounts of money, one at 4% and the other at 6%. Her yearly interest was P800. How much did she invest at each rate?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com
Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

   

Question 222373: Mrs. Lim invested two equal amounts of money, one at 4% and the other at 6%. Her yearly interest was P800. How much did she invest at each rate?
Answer by stanbon(57361) About Me  (Show Source):
You can put this solution on YOUR website!
Mrs. Lim invested two equal amounts of money, one at 4% and the other at 6%. Her yearly interest was P800. How much did she invest at each rate?
----------------------
Let amount invested at each rate be "x".
Equation:
interest + interest = interest
0.04x + 0.06x = 800
0.10x = 800
x = P8000 (amount she invested at each rate)
================================================
Cheers,
Stan H.