SOLUTION: a total of $12000 is invested in two stocks of, one of which returns 8% per year and the other 12% per year. How much has been invested in each stock if the income from the 8% stoc
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Question 470602: a total of $12000 is invested in two stocks of, one of which returns 8% per year and the other 12% per year. How much has been invested in each stock if the income from the 8% stock is 3$ more than the income from the 12% stock?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 8.00% per annum ------------- x
Part II 12.00% per annum ------------ y
total investment 12000
Interest-----= 8.00% x
Interest-----= 12.00% y
greater by 5
8.00% x = 12.00% y + 5
multiply by 100
8 x - -12 y = 500 --------1
x + y = 12000 -------- 2
eliminate y
Multiply 1 by 1
Multiply 2 by -12
we get
8 x +12 y = 500
-12 x-12 y = -144000
-4 x= -143500
/ -4
x= 35875
Plug the value of x in in 1
287000 -12 y = 500
-12 y = 500 -287000
-12 y = -286500
/ -12
y= 23875
$ 35875 at 8.00%
$ 23875 at 12.00%
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