Question 1138526: A man has 2,500 pesos to invest, divides his money between a building and loan corporation paying 6%, and a savings bank which pays 5%. If his money earns him 141 pesos each year, how much did he invest at each place?
Answer by ikleyn(53763)   (Show Source):
You can put this solution on YOUR website! .
Let x = amount at 6%, in pesos.
Then the amount at 5% is the rest (2500-x) pesos.
The interest from the 6% amount is 0.06*x pesos.
The interest from the 5% amount is 0.05*(2500-x) pesos.
Your equation is
interest + interest = total interest, or
0.63*x + 0.05*(2500-x) = 141 pesos.
From the equation, express x and calculate the answer
x =  = 1600.
Answer. The amount at 6% is $1600; the rest $2500-$1600 = $900 is the amount at 5%.
Check. 0.06*1600 + 0.05*900 = 141 pesos. ! Correct !
-----------------
It is a typical and standard problem on investment.
To see many other similar solved problems on investment, look into the lesson
- Using systems of equations to solve problems on investment
in this site.
You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
different methods of solution to the equations (Substitution, Elimination).
Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.
The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".
Save the link to this online textbook together with its description
Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson
to your archive and use it when it is needed.
|
|
|
