SOLUTION: Channing derives an income of P618 from some money invested at 3% and some at 4.5% if the amounts of the respective investmemts were interchanged, he would receive P336. How much d
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Channing derives an income of P618 from some money invested at 3% and some at 4.5% if the amounts of the respective investmemts were interchanged, he would receive P336. How much d
Log On
Question 982515: Channing derives an income of P618 from some money invested at 3% and some at 4.5% if the amounts of the respective investmemts were interchanged, he would receive P336. How much did he originally invest at each rate? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! Channing derives an income of P618 from some money invested at 3% and some at 4.5% if the amounts of the respective investments were interchanged, he would receive P336.
How much did he originally invest at each rate?
;
let x = amt of 1st investment
let y = amt of 2nd investment
:
Write an equation for each scenario
.045x + .03y = 636
.03x + .045y = 618
:
Rearrange the 1st equation
.03y = -.045x + 636
divide both sides by .03
y = x +
y = -1.5x + 21200
:
Replace y with (-1.5x+21200) in the 2nd equation
.03x + .045(-1.5x+21200) = 618
.03x - .0675x + 954 = 618
.03x - .0675x = 618 - 954
-.0375x = -336
x =
x = $8960 amt in the 1st investment
then
y = -1.5(8960) + 21200
y = -13440 + 21200
y = $7760 amt in the 2nd investment
:
:
You can check this for yourself:
.03(8960) + .045(7760) =
and
.045(8960) + .03(7760) =
