SOLUTION: A man has ₱ 2,000 invested at 7% and ₱ 5,000 at 4% simple interest. What additional amount must he invest at 6% to give him an overall of 5%?

Question 789847: A man has ₱ 2,000 invested at 7% and ₱ 5,000 at 4% simple interest. What additional amount must he invest at 6% to give him an overall of 5%?
Answer by Edwin McCravy(20054) (Show Source): You can put this solution on YOUR website!
A man has ₱ 2,000 invested at 7% and ₱ 5,000 at 4% simple interest. What additional amount must he invest at 6% to give him an overall of 5%?


Answer = ₱ x 

Investments     | Rate |   Interest
------------------------------------------
  ₱ 2,000       | .07  | ₱ .07(2000)
  ₱ 5,000       | .04  | ₱ .04(5000)
  ₱ x           | .06  | ₱ .06(x)
------------------------------------------
₱(2000+5000+x)  | .05  | ₱ .05(2000+5000+x)

₱ .07(2000) + ₱ .04(5000) + ₱ .06(x) = ₱ .05(2000+5000+x)
      .07(2000) + .04(5000) + .06(x) = .05(2000+5000+x)
                    140 + 200 + .06x = .05(7000+x)
                          340 + .06x = 350 + .05x
                                .01x = 10
                                   x = 
                                   x = 1000

Answer: ₱ 1,000

Edwin

RELATED QUESTIONS
a man has 2,000 invested at 7% and 5,000 at 4% simple interest. What additional amount... (answered by ankor@dixie-net.com)

Urgent: A man has 20,000 invested at 7% and 50,000 at 4% simple interest. What additional (answered by JoelSchwartz)

A man has $20,000 invested at 7% and %50,000 invested at 4% simple interest. What... (answered by josmiceli)

A man has $2000 invested at 7% and $5000 at 4% simple interest. What additional sum must (answered by mananth)

A man loans ₱ 4,000 at one interest rate and ₱ 5,000 at 1% greater rate. Find (answered by nilan)

If an amount of $9,000 is invested at a simple interest rate of 3 1/2% interest per (answered by ikleyn,greenestamps)

1st question: The principal P is borrowed at a simple interest rate r for a period of (answered by ikleyn)

1. Ellen has $8000 to invest in an RESP (Registered Education Savings Plan) for 7 years.... (answered by josmiceli)

If Ben invest $40,000 at 4% interest per year, how much additional money must he invest... (answered by lwsshak3)

SOLUTION: A man has &#8369; 2,000 invested at 7% and &#8369; 5,000 at 4% simple interest. What additional amount must he invest at 6% to give him an overall of 5%?

SOLUTION: A man has ₱ 2,000 invested at 7% and ₱ 5,000 at 4% simple interest. What additional amount must he invest at 6% to give him an overall of 5%?