SOLUTION: You separated your P500,000 into two accounts. The first account has 5% interest rate while the second account has 10%. The annual interest of the first account is P22,440 less tha

Question 294296: You separated your P500,000 into two accounts. The first account has 5% interest rate while the second account has 10%. The annual interest of the first account is P22,440 less than the annual interest of second account. How much was invented at the 10% account.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
You separated your P500,000 into two accounts. The first account has 5% interest rate while the second account has 10%. The annual interest of the first account is P22,440 less than the annual interest of second account. How much was invested at the 10% account.
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Quantity Eq::::: x + y = 500,000
Interest Eq:::::0.05x = 0.10y - 22440
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5x + 5y = 5*500000
5x - 10y = -2244000
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Subtract 2nd from 1st to get:
15y = 5*500000+2244000
y = 316,266.67 (amt. invested at 10%)
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Cheers,
Stan H.
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