SOLUTION: Fres Calibig invests a part of $17000 at 8% and the rest 9%. If the annual incomes from the two investments are equal, how much has he invested at each rate?

Question 681439: Fres Calibig invests a part of $17000 at 8% and the rest 9%. If the annual incomes from the two investments are equal, how much has he 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 9.00% per annum ------------ Amount invested = y
Total= 17000

Part I 8.00% per annum ---x
Part II 9.00% per annum ---y
Total investment
x+y= 17000 -------------1
Interest on both investments
8.00% x = 9.00%
Multiply by 100
8 x = 9 y
8x-9y=0 --------2

1 x + 1 y = 17000 .............1

8 x -9 y = 0 .............2
Eliminate y
multiply (1)by 9
Multiply (2) by 1
9 x 9 y = 153000
8 x -9 y = 0
Add the two equations
17 x = 153000
/ 17
x = 9000
plug value of x in (1)
1 x + 1 y = 17000
9000 + y = 17000
y = 17000 -9000
y = 8000
y = 8000
x= 9000 Part I
y= 8000 Part II
m.ananth@hotmail.ca

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