SOLUTION: Nestor invested 5000 pesos, part of it at 3% and the rest at 5% simple interest. If the total annual income from both of these investments amounted to 175 pesos, how much was inves

Question 373948: Nestor invested 5000 pesos, part of it at 3% and the rest at 5% simple interest. If the total annual income from both of these investments amounted to 175 pesos, how much was invested at each rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Amount x pesos -------3%
5000-x pesos ---------5%
..
Interest = 175 pesos
...
INTEREST EQUATION
0.03x+0.05(5000-x)=175
0.03x+250-0.05x=175
-0.02x = 175-250
-0.02x=-75
/-0.02
x=-75/-0.02
x= 3750 pesos @ 3 %
balance @ 5%
...
m.ananth@hotmail.ca
RELATED QUESTIONS
larry invested part of his 29000 advance at 4% annual simple interest and the rest at 5 % (answered by mananth)

Larry Mitchell invested part of his $16,000 advance at 5% annual simple interest... (answered by ewatrrr)

Larry Mitchell invested part of his $22,000 advance at 5% annual simple interest and the... (answered by addingup)

Larry Mitchell invested part of his $30,000 advance at 5% annual simple interest and the... (answered by greenestamps)

larry mitchell invested part of his 14,000 advance at 7% annual simple interest and the... (answered by Boreal)

Larry mitchel invested part of his $13,000 advance at 7% annual simple interest and the... (answered by ikleyn,greenestamps)

Larry Mitchell invested part of his $17,000 advance at 5% annual simple interest and the... (answered by Fombitz)

larry mitchell invested part of his 28000 advance at 3% annual simple interest and the... (answered by checkley79)

Larrry Mitchell invested part of his $29,000 at 7% annual interest and the rest at 6%... (answered by oscargut)