SOLUTION: Mrs.Santos invests P21,000 at 8% interest rate.How much more must he invest at 9 1/2% interest to have an annual income of 9% of his total investments? (answer is P42,000 show your
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Question 904396: Mrs.Santos invests P21,000 at 8% interest rate.How much more must he invest at 9 1/2% interest to have an annual income of 9% of his total investments? (answer is P42,000 show your solution) Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Mrs.Santos invests P21,000 at 8% interest rate.
let her invest x at 9 1/2% interest
annual income of 9% of his total investments
total investment =(x+21000)
8%*21000+9.5%x= 9%(x+21000)
multiply by 100
8*21000 +9.5x = 9x+189000
9.5x-9x= 189000-168000
0.5x=21000
multiply by 2
x=42000
