Problema Solution
Mira has a total income per year of PHP 110 from two investments: each at 4% and 3% simple interests. How much did she invest at each rate if her capital was PHP 2824?
Answer provided by our tutors
let
x = the money invested at 4% simple rate
y = the money invested at 3% simple rate
her capital was PHP 2824 means
x + y = 2824
the total income per year is PHP 110
0.04x + 0.03y = 110
by solving the system of equations
x + y = 2824
0.04x + 0.03y = 110
we find
x = PHP 2,528
y = PHP 296
click here to see the step by step solution of the system of equations
Mira invested PHP 2,528 at 4% and PHP 296 at 3%.