SOLUTION: on 2 investments totaling 13500 peter lost 5 percent on one and gained 7 percent on the other his net annual receipts were $171 how much was each investment?
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Question 806161: on 2 investments totaling 13500 peter lost 5 percent on one and gained 7 percent on the other his net annual receipts were $171 how much was each investment? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I -5.00% per annum ------------- Amount invested =x
Part II 7.00% per annum ------------ Amount invested = y
13500
Interest----- 171.00
Part I -5.00% per annum ---x
Part II 7.00% per annum ---y
Total investment
x + 1 y= 13500 -------------1
Interest on both investments
-5.00% x + 7.00% y= 171
Multiply by 100
-5 x + 7 y= 17100.00 --------2
Multiply (1) by 5
we get
5 x 5 y= 67500.00
Add this to (2)
0 x 12 y= 84600
divide by 12
y = 7050
Part I -5.00% $ 6450
Part II 7.00% $ 7050
