SOLUTION: A man invested part of Php 15,000 at 12 percent and the remainder at 8 percent. If his annual income from the investment is Php 1,456, How much does he have invested at each rate?

Question 667707: A man invested part of Php 15,000 at 12 percent and the remainder at 8 percent. If his annual income from the investment is Php 1,456, How much does he have invested at each rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 8.00% per annum ------------- Amount invested =x
Part II 12.00% per annum ------------ Amount invested = y =
15000
Interest----- 1456

Part I 8.00% per annum ---x
Part II 12.00% per annum ---y
Total investment
x + 1 y= 15000 -------------1
Interest on both investments
8.00% x + 12.00% y= 1456
Multiply by 2
8 x + 12 y= 145600.00 --------2
Multiply (1) by -8
we get
-8 x -8 y= -120000.00
Add this to (2)
0 x 4 y= 25600
divide by 4
y = 6400
Part I 8.00% php 8600
Part II 12.00% php 6400

CHECK
8600 --------- 8.00% ------- 688.00
6400 ------------- 12.00% ------- 768.00
Total -------------------- 1456.00

m.ananth@hotmail.ca

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