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Question 839188: the amount invested in two advertising agencies is 100000. one investment yields 10% and the annual income from this investment is 5000 less than the annual income from the other investment yield 8%. Find the about invested at each rate
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! the amount invested in two advertising agencies is 100000. one investment yields 10% and the annual income from this investment is 5000 less than the annual income from the other investment yield 8%. Find the about invested at each rate
x at 10%
y at 8%
total invested
x+y=100000.....................(1)
Interest from 8% investment - interest from 10% investment = 5000
8y/100 - 10x/100 = 5000
multiply by 100
8y-10x=500000.................(2)
1 x + 1 y = 100,000 .............1
Total value
-10 x + 8 y = 500,000 .............2
Eliminate y
multiply (1)by -8
Multiply (2) by 1
-8 x -8 y = -800,000
-10 x + 8 y = 500,000
Add the two equations
-18 x = -300,000
/ -18
x = 16,667
plug value of x in (1)
1 x + 1 y = 100,000
16,667 + y = 100,000
y = 100,000 -16,667
y = 83,333
y = 83,333
x= 16666.67
y= 83333.33
m.ananth@hotmail.ca
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