Question

A total of P60,000 was invested, a portion at 5% and the remainder at 4.5%. The total amount of interest earned was P2,900. How much was invested at each rate?

Answer 1

P40000 at 5%

P20000 at 4.5%

I am curious as to what the P stands for. Can you tell me?

Explanation:

Let x = amt. invested at 5%

y = amt. invested at 4.5%

(1) x + y = 60000 (2) .05x + .045y = 2900

50x + 45y = 2900000

-45 times (1) -45x - 45y = -2700000

5x = 200000

x = 40000

40000 + y = 60000

y = 20000

P40000 at 5%

P20000 at 4.5%

I am curious as to what the P stands for. Can you tell me?