Problema Solution
AN INVESTER DEPOSITED $3OOO MORE IN STOCKS AT 8%THAN IN BONDS.THE REMAINDER DEPOSITED IN BONDS AT 9.5%.BOTH OF SIMPLE INTREST ACCOUNT.BOTH ACCOUNT YEALD THE SAME AMOUNT OF INTREAST EACH .WHAT IS THE TOTAL AMOUNT OF INTREAST EARN FROM EACH ACCOUNT?
Answer provided by our tutors
Let in bonds = x
Amount in stocks = x+ 3000
given 0.08*(x+3000) = 0.09*x => 0.01x = 240 => x = 24000
Amount in stock = 27000
total amount = 27000+24000=51000
Amount of interest earned = 2*0.09*24000 = 2160*2 = 4320