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Question 169879: Mary Grace invested a certain sum in an account that pays 6% interest and invested P10 000 more in another account that pays 10% interest. If the income from both investments was P34 000, then how much did he invest at each rate?
please give me your table for the solution
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Mary Grace invested a certain sum in an account that pays 6% interest and invested P10 000 more in another account that pays 10% interest. If the income from both investments was P34 000, then how much did he invest at each rate?
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Interest Equation: 0.06x + 0.10*(x+10,000) = 34000
6x + x + 10000 = 3400000
5x = 3390000
x = 678000 (amt. invested at 6%)
x + 100000 = 688000 (amt. invested at 10%
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Cheers,
Stan H.
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