Question 394104: Pls. help me solve this problem.
Ana invested 50,000. Part of it she invested in a mine stock from which she hoped to receive a 20 percent return per yr. The rest she invested in a bank stock which was paying 6 percent per year. If she received $400 more the first year from the bank stock than from the mining stock, how much did she invest in each stock.
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! Ana invested 50,000. Part of it she invested in a mine stock from which she hoped to receive a 20 percent return per yr. The rest she invested in a bank stock which was paying 6 percent per year. If she received $400 more the first year from the bank stock than from the mining stock, how much did she invest in each stock.
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Ana invested 50,000.
mine stock $ x------- 20 %
bank stock $ (50000-x)-----6 %
If she received $400 more the first year from the bank stock than from the mining stock, how much did she invest in each stock.
Bank stock interest - mine stock interest = 400
(50,000-x)*0.06 - 0.20x = 400
multiply by 100
(50,000-x)*6-20x=400*100
300000-6x-20x=40000
-26x=-260,000
/-26
x= 10000
$10,000 money invested in mine stock
$40,000 in bank stock
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