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Question 772962: After winning the lottery, Adonar decided to invest P5,000,000. a portion of the money will be invested on a real estate business which gives a 12% annual interest and the rest on a food business which gives a 15% annual interest. If he expects an annual income of P660,000, how much should be invested on a real estate business?
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! Real Estate 12.00% per annum ------------ Amount invested = y
5000000
Interest----- 660000.00
Food business 15.00% per annum ---x
Real Estate 12.00% per annum ---y
Total investment
x + 1 y= 5000000 -------------1
Interest on both investments
15.00% x + 12.00% y= 660000
Multiply by 100
15 x + 12 y= 66000000.00 --------2
Multiply (1) by -15
we get
-15 x -15 y= -75000000.00
Add this to (2)
0 x -3 y= -9000000
divide by -3
y = 3000000
Food business 15.00% $ 2,000,000
Real Estate 12.00% $ 3,000,000
CHECK
2000000 --------- 15.00% ------- 300000.00
3000000 ------------- 12.00% ------- 360000.00
Total -------------------- 660,000.00
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