Question 1192361: An investing advisor put 75% of a client's money into a money market fund with a 9% annual simple interest rate. The remainder was put into government securities paying 6% annual basic interest. If the total yearly interest received is Php 3300, calculate the amount invested in each.
Found 2 solutions by ikleyn, greenestamps:
Answer by ikleyn(52776)   (Show Source):
You can put this solution on YOUR website! .
An investing advisor put 75% of a client's money into a money market fund with a 9% annual simple interest rate.
The remainder was put into government securities paying 6% annual basic interest.
If the total yearly interest received is Php 3300, calculate the amount invested in each.
~~~~~~~~~~~~~~~
Let x be the total money invested amount.
Then 0.75x is invested at 9% and 0.25x is invested at 6%.
Write the total interest equation
0.09*(0.75x) + 0.06*(0.25x) = 3300
From this equation find x
x =  = 40000.
So, 0.75*40000 = Php 30000 was invested at 9% and the rest, Php 10000 was invested at 6%. ANSWER
CHECK. 0.09*30000 + 0.06*10000 = 3300, the total annual interest. ! Correct !
Solved.
Answer by greenestamps(13198)  (Show Source):
You can put this solution on YOUR website!
3/4 of the money is invested at 9% and 1/4 at 6%. The average percentage yield is then
The total interest on the total amount x was Php 3300:
(33/4)% of x = 3300
(33/400)x = 3300
x = 3300(400/33) = 400*100 = 40000
The total invested was Php 40,000.
ANSWERS:
amount invested at 9% = 3/4 of Php 40,000 = Php 30,000
amount invested at 6% = 1/4 of Php 40,000 = Php 10,000
CHECK: .09(30,000)+.06(10,000) = 2700+600 = 3300
|
|
|
