Question

Hazel invested part of a Php10,000 inheritance in stocks paying 6.5%

simple interest annually. She invested the rest in bonds paying 4.25% simple
interest annually. If Hazel will receive Php 582.50 in interest after one year,
how much did she invest in stocks? How much did she invest in bonds?​

Answer 1

she invested $7013.33 in stocks and she invested $2986.7 in bonds?

Explanation:

Let the amount invested in the stock= X

Let the amount invested in the bond= Y

For quantity equation,

X + Y = 10000 ............eqn(1)

✓We are told inheritance in stocks paying 6.5% simple interest = 0.065X

✓we are told She invested the rest in bonds paying 4.25% simple interest= 0.0425Y

The interest equation can be written as

0.065X + 0.0425Y = 582.50.........eqn(2)

We can make X subject of formula from eqn(1)

X= 10000 - Y

Substitute into eqn (2)

0.065(1000-Y) + 0.0425Y= 582.50

Multiply through by 10000

650(10000 - Y) + 425Y = 5825000

6500000 - 650Y + 425Y =5825000

Y= 2986.66

If we substitute Y into (X + Y )= 10000

X+2986.66= 10000

X= 7013.33

hence, she invested $7013.33 in stocks and she invested $2986.7 in bonds?