Problema Solution
Molly has Php30000. She invests Php120000 at 15% and the rest at another rate. If her income at the end of one year is Pho4860, at what rate did she invest the rest of her money?
Answer provided by our tutors
Php 12000 are invested at 15%.
The rest of the money, out of 30,000 is:
30,000 - 12,000 = 18,000
Let 'r' represent the rate as a decimal such that Php18,000 is invest at a rate of r or 100r percents.
0.15*12000 + r*(30000 - 12000) = 4860
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click here to see the equation solved for r
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r = 0.17 or 17%
The rest of the money Molly invested at rate of 17%.