SOLUTION: Part of P200,000 was invested as 5% per annum and the rest at 8% per annum, both at simple interest. At the end of two years, the total income from both investments amounted to P2,

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Part of P200,000 was invested as 5% per annum and the rest at 8% per annum, both at simple interest. At the end of two years, the total income from both investments amounted to P2,      Log On


   



Question 884806: Part of P200,000 was invested as 5% per annum and the rest at 8% per annum, both at simple interest. At the end of two years, the total income from both investments amounted to P2,720. How much was invested at 5%?

Thanks in advance :)))

Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Part I 5.00% per annum ------------- Amount invested =x
Part II 8.00% per annum ------------ Amount invested = y
200000
Interest----- 1360.00 for 1 year

Part I 5.00% per annum ---x
Part II 8.00% per annum ---y
Total investment
x + 1 y= 200000 -------------1
Interest on both investments
5.00% x + 8.00% y= 1360
Multiply by 100
5 x + 8 y= 136000.00 --------2
Multiply (1) by -5
we get
-5 x -5 y= -1000000.00
Add this to (2)
0 x 3 y= -864000
divide by 3
y = -288000
Part I 5.00% $ 488000
Part II 8.00% $ -288000

CHECK
488000 --------- 5.00% ------- 24400.00
-288000 ------------- 8.00% ------- -23040.00
Total -------------------- 1360.00

m.ananth@hotmail.ca