Question 1047771: A company decided to invest Php 100 000. Part was invested in a bank account paying 8% per year, and the remainder was invested in stocks paying 11% interest per year. If the total yearly interest from the two investments is Php 10 100, how much was invested in each?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A company decided to invest Php 100 000. Part was invested in a bank account paying 8% per year, and the remainder was invested in stocks paying 11% interest per year. If the total yearly interest from the two investments is Php 10 100, how much was invested in each?
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Equations:
t + e = 100,000
0.08t + 0.11e = 10100
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8t + 8e = 8*100,000
8t + 11e = 1010000
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Subtract and solve for "e":
3e = 210,000
e = 70,000 (amt invested at eleven%)
t = 100,000-70,000 = 30,000 (amt invested at eight%)
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Cheers,
Stan H.
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