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Question 1174696: Madel has PHP25,000 and she invested it into two accounts. One account earns 7% interest while the other earns 5% interest. After a year, she earned an interest amounting to PHP1,610. How much did she invest on the two account individually?
Answer by ikleyn(52914)   (Show Source):
You can put this solution on YOUR website! .
x invested at 7% and (25000-x) invested at 5%.
Your total interest equation is
0.07x + 0.05*(25000-x) = 1610
From the equation,
x =  = 18000.
ANSWER. Php18,000 invested at 7%; the rest Php7,000 invested at 5%.
CHECK. 0.05*7000 + 0.07*18000 = 1610, annual interest. ! Correct !
Solved.
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It is a standard and typical problem on investments.
If you need more details, or if you want to see other similar problems solved by different methods, look into the lesson
- Using systems of equations to solve problems on investment
in this site.
You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
different methods of solution to the equations (Substitution, Elimination).
Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.
The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".
Save the link to this online textbook together with its description
Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson
to your archive and use it when it is needed.
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