Problema Solution
A businessman invested part of php 2,000,000 at 12% and the rest at 15% . If both investments gave him php 250,000 per annum, how much was each investment?
Answer provided by our tutors
12% invest: x
15% invest: y
So the equation is
x + y = 2,000,000
12%x + 15%y = 250,000
So
x = 1,667,000
y = 333,000
So
12% invest: $1,667,000
15% invest: $333,000