mr. june invested $8000 at 7. How much additional money must he invest at 4% in order that his total annual income may equal 5% of his entire investment
Answers
Answered by
0
let $ R invest by mr. june
then equation will be
(7% of 8000)+(4% of R) = 5% of (8000+R)
=> 560+(4/100×R)= 5/100(8000+R)
=> (56000+4R)/100 = (40000+5R)/100
100 cancel both sides
=> 56000 - 40000=5R-4R
=> R = 16000
ie, mr. June must invest $16000
then equation will be
(7% of 8000)+(4% of R) = 5% of (8000+R)
=> 560+(4/100×R)= 5/100(8000+R)
=> (56000+4R)/100 = (40000+5R)/100
100 cancel both sides
=> 56000 - 40000=5R-4R
=> R = 16000
ie, mr. June must invest $16000
Similar questions