SOLUTION: Mr. Santos invested half of his money at 7% per year and a half at 8% per year. His annual income from the two investments was 7,500pesos. How much did he invest at each rate?

Question 413341: Mr. Santos invested half of his money at 7% per year and a half at 8% per year. His annual income from the two investments was 7,500pesos. How much did he invest at each rate?
Answer by kamallohia(18) (Show Source): You can put this solution on YOUR website!
On an average he is getting 7.5% per annum i.e. 7.5 pesos per year at an investment of 100 pesos. Now as he's getting 7500 pesos from both of his investment, he'd have invested 100,000pesos.
Remember I am considering 7500pesos as the interest acrued only. But if it is the total amount including principal amount and interest, in that case the proncipal amount will be different and can be easily calculated as 7500/1.075 = 6976.75 pesos.
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