SOLUTION: A man invested part of P10, 000 at 6% and the rest at 7%. The annual income from the 7% investment was P35 less than seven times the annual income from the 6 % investment. How much
Algebra ->
Customizable Word Problem Solvers
-> Numbers
-> SOLUTION: A man invested part of P10, 000 at 6% and the rest at 7%. The annual income from the 7% investment was P35 less than seven times the annual income from the 6 % investment. How much
Log On
Question 1190822: A man invested part of P10, 000 at 6% and the rest at 7%. The annual income from the 7% investment was P35 less than seven times the annual income from the 6 % investment. How much did he invest at each rate? Answer by ikleyn(52775) (Show Source):
You can put this solution on YOUR website! .
A man invested part of P10, 000 at 6% and the rest at 7%.
The annual income from the 7% investment was P35 less than seven times
the annual income from the 6 % investment. How much did he invest at each rate?
~~~~~~~~~~~~~~~~~~~
Let x be invested at 7%; then the rest, (10000-x) is invested at 6%.
The annual interest of the 7% investment is 0.07x.
The annual interest of the 6% investment is 0.06*(10000-x).
The problem says that
0.07x = 7*0.06*(10000-x) - 35.
From this equation
x = = 8500.
ANSWER. P 8500 invested at 7% and the rest, 10000-8500 = 1500 invested at 6%.
CHECK. 0.07*8500 = 595; 0.06*1500 = 90; 7*90 - 595 = 630 - 595 = 35, the difference. ! Correct !
