Problema Solution
Mr.M.K Gorleku invested a sum of money in two separate projects in the ratio of 4:5.His interest was calculated at a rate of 10% and 12% simple interest respectively.if after two yrs,he received a total sum of Gh10,000.00 as interest for the two projects,what is the amount invested in these two projects.
Answer provided by our tutors
let project 1 = x
project 2 = y
x:y = 4:5
or
5x = 4y
int project 1 = x * 10 % * 2 = 0.2 x
int project 2 = y * 12 % * 2 = 0.24 y
o.2 x + 0.24 y = 10,000
solvinf we get
x = 20, 000 (projetc 1 )
y = 25, 000 (project 2 )
tota invetsed = 20,000 + 25,000 = 45, 000