SOLUTION: I need help with this homework. A businessman has invested Php100,000 at 8% and Php150,000 at 12% simple interest. At what rate must he invest Php200,000 for him to earn 10% overal

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: I need help with this homework. A businessman has invested Php100,000 at 8% and Php150,000 at 12% simple interest. At what rate must he invest Php200,000 for him to earn 10% overal      Log On

Let x be this unknown rate (a decimal number).


Then you need to solve this simple linear equation for x


    0.08*100000 + 0.12*150000 + x*200000 = 0.1*(100000 + 150000 + 200000).


Simplify and solve.