SOLUTION: 5. Mrs. Santos invested part of P35,000 in a stock paying 9% interest for 2 years and the balance in a stock paying 6% interest for 4 years. It turns out that the two investments

Question 285119: 5. Mrs. Santos invested part of P35,000 in a stock paying 9% interest for 2 years and the balance in a stock paying 6% interest for 4 years. It turns out that the two investments earned equal interest. How much was invested at each rate? with a solution and answer plz
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Mrs. Santos invested part of P35,000 in a stock paying 9% interest for 2 years and the balance in a stock paying 6% interest for 4 years. It turns out that the two investments earned equal interest. How much was invested at each rate? with a solution and answer plz
Let the amount invested at9% be x
The balnace 35000-x will be invested at 6%
Interest at 9% will yield an interest = x*2*9 /100 for 2 years
Interest at 6% will yield an interest = (35000-x)*4*6 / 100 for 4 years
The interests are same

x*2*9 /100 = (35000-x)*4*6/100

18x*100 / 100 = 840 000 -24x
18x+24x=840 000
42x=840 000
x=840000/42
x=20000
35000-20000=15000

$20000 was invested at 9%
$15000 was invested @ 6%

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