Question

A man invested part of Php 20,000.00 at 18% simple interest and the rest at 16%. The annual income from the 16% investment was Php 620.00 less than three times the annual income of the 18% investment. How much was invested at 18%?

Answer 1

Answer:

Explanation:

x * 0,18 + 0,16(20000 - x) = y + 3y - 620

4y = 0,02x + 3820

y = 0,02x + 3820 / 4 …..1

and

y = 0,18x ……2

equate 1 and 2

0,72x =0,02x + 3820

x = 5457,14