SOLUTION: a man invested 100000. he put part 5% interest. on the other hand, he invested the remainder in bonds with 9% yearly return. How much did he put in the banks if his yearly income f

Question 916953: a man invested 100000. he put part 5% interest. on the other hand, he invested the remainder in bonds with 9% yearly return. How much did he put in the banks if his yearly income from the two investments was 7400?
Answer by mananth(16949) (Show Source): You can put this solution on YOUR website!
Part I 5.00% per annum ------------- Amount invested =x
Part II 9.00% per annum ------------ Amount invested = y
100000
Interest----- 7400.00

Part I 5.00% per annum ---x
Part II 9.00% per annum ---y
Total investment
x + 1 y= 100000 -------------1
Interest on both investments
5.00% x + 9.00% y= 7400
Multiply by 100
5 x + 9 y= 740000.00 --------2
Multiply (1) by -5
we get
-5 x -5 y= -500000.00
Add this to (2)
0 x 4 y= 240000
divide by 4
y = 60000
Part I 5.00% $ 40000
Part II 9.00% $ 60000

CHECK
40000 --------- 5.00% ------- 2000.00
60000 ------------- 9.00% ------- 5400.00
Total -------------------- 7400.00

m.ananth@hotmail.ca

RELATED QUESTIONS
a man invested 100000. he put part 5% interest. on the other hand, he invested the... (answered by josgarithmetic,solver91311,stanbon,jamalia)

A man invested Php 1000,000. he put part of it in a bank at 5% interest. On the other... (answered by ikleyn)

Little Johnny invested $10,000. He put part of it in a bank at 5 percent interest. He... (answered by stanbon)

a man invested 10000$,part at 5 percent and part at 9 percent.if the total yearly... (answered by jorel1380)

Jacob invested $20,000.He put part of it in the bank at 5% interest and the other portion (answered by josmiceli)

mike invested three times as much money in a bond paying 4% yearly interest as he... (answered by mananth)

A man invested in $4000, part at 5% and the remainder at 3% simple interest. The total... (answered by macston)

A retiring pilot has $8,600 to invest. He invested part of it in bonds getting 5%... (answered by Fombitz)

A retiring seaman has $8,600 to invest. He invested part of it in bonds getting 5%... (answered by graphmatics)