SOLUTION: a business man invested part of Php 2,000,000 at 12% and the rest at 15%. if both investments gave him Php250,00 per annum, how much was each investments?

Question 551371: a business man invested part of Php 2,000,000 at 12% and the rest at 15%. if both investments gave him Php250,00 per annum, how much was each investments?
Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Let's say he invested Php(x) at 12% and the remainder Php(2,000,000-x) at 15%. The earning from these two investments amounts to Php250,000, so we can state this as:
0.12x+0.15(2,000,000-x) = 250,000 Solve for x.
0.12x+300,000-0.15x = 250,000 Simplify.
-0.03x+300,000 = 250,000
-0.03x = -50,000
x = 1,666,666.67 and
2,000,000-x = 333,333.33
The businessman invested Php1,666,666.67 at 12% and Php333,333.33 at 15%

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