SOLUTION: A man has Php1,000,000 invested at 7.4%. How much can he invest at 5% in order tomake 6.6 percent on his total investment

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Question 1058006: A man has Php1,000,000 invested at 7.4%. How much can he invest at 5% in order tomake 6.6 percent on his total investment
Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
Let n represent the amount to invest at 5%. Then:
1000000(.074)+.05n=.066(1000000+n)
74000+.05n=66000+.066n
.016n=8000
n=Php 500000 to be invested at 5% in order to achieve the desired interest. ☺☺☺☺