Question

Mrs. Bautista invested Php2700.00 part at 8% and the rest at 11% .How musch did she invest at each rate if her total annual income from both investment was Php2460.00?

Answer 1

The answer to the question is

She invested

Php2700.00 at 8 % and

Php 20,400.00 at 11 %

Explanation:

To solve the question we note that

Simple interest is given by
`(P*R*T)/(100)` where

P= Principal, R = Rate and T = Time

If we call the first part P₁, T₁, and R₁ and the second part

P₂, T₂, and R₂

Then
`{P_1*(1+R_1*T_1}) +{P_*(1+R_2*T_2}) = 2460.00`

= 2700×0.08×1 + P₂×0.11×1 = 2460 which gives

2244÷0.11 = P₂ or P₂ = Php 20,400.00

That is she invested

Php2700.00 at 8 % and

Php 20,400.00 at 11 %