Question

Mrs.Kokomo invested k30,000;part at 5%,and part at 8%.The total interest on the investment was k2100.How much did she invested at each rate?

Answer 1

Given : Mrs.Kokomo invested 30,000;part at 5%,and part at 8%.The total interest on the investment was  2100

To Find : How much did she invested at each rate?

Solution:

Let say Part invested at 5 %  =    P

Part invested at 8 %  =    30000 - P

SI = P * R * T /100

T = 1

SI  = P * 5 *  1/100  + (30000 - P) * 8 * 1/100   = 2100

=> 5P  +  240000 - 8P  = 210000

=> 3P  = 30000

=> P = 10000

30000 - P = 20000

invested at 5 %  =    10000

invested at 8 %  =    20000

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