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
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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
