Question 1011881: An amount of P340000 is invested, part at 8% and the remainder at 9%. Find the amount invested at each rate if the yearly income on each investment is the same.
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! x = part invested at 8%.
y = part invested at 9%
x + y = 340,000
.08x = .09y
solve for x to get x = .09y/.08 which becomes x = 1.125y
in the equation x + y = 340,000, replace x with 1.125y to get 1.125y + y = 340,000.
combine like terms to get 2.125y = 340,000.
solve for y to get y = 340,000 / 2.125 = 160,000.
since x = 1.125y, you get x = 1.125 * 160,000 = 180,000.
the amount invested at 8% is 180,000.
the amound invested at 9% is 160,000
.08 * 180,000 = 14,400.
.09 * 160,000 = 14,400.
the income is the same, so the solution is good.
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