Question

Mr. Thomas invested an amount of ₱13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be ₱3508, what was the amount invested in Scheme B?

Answer 1

9514 1404 393

Answer:

₱6400

Explanation:

Let 'b' represent the amount invested in scheme B. Then 13900-b is the amount invested in scheme A. The total interest for 2 years is then ...

14%(13900-b)(2) +11%(b)(2) = 3508

1946 -0.03b = 1754 . . . . . . divide by 2, simplify

-0.03b = -192 . . . . . . . . . subtract 1946

b = 6400 . . . . . . . . . . . divide by -0.03

The amount invested in scheme B was ₱6400.