Problema Solution
1.An investment yeilds an annual interest of P750. If P500 more is invested and the rate is 1% less, the annual interest becomes P 650. What is the amount of the investment and rate of interest?
Answer provided by our tutors
the amount of the money invested, that is the principal amount is P9500 and the rate of interest is 7.9% and the amount = principal + interest = P9500 + P750 = P10250.