Question

Mr. Azu invested an amount at rate of 12% per annum and invested another amount, 580 ghana cedis more than the first at 14% . if Mr. Azu had total accumulated amount of 2,358.60, how much was his total investment? ​

Answer 1

2082.12 was the total invested

Explanation:

Let x represent the amount invested at 14%. Then the amount invested at 12% was (x-580). The total accumulated amount was ...

112%(x -580) +114%(x) = 2358.60

2.26x -649.60 = 2358.60

2.26x = 3008.20 . . . add 649.60

x = 1331.06 . . . . . . divide by 2.26

x -580 = 751.06

The total invested was 1331.06 +751.06 = 2082.12 cedis.

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Check

The investment at 12% was 751.06, so the accumulated amount of that investment was 751.06×1.12 = 841.19.

The investment at 14% was 1331.06, so the accumulated amount of that investment as 1331.06×1.14 = 1517.41.

The accumulated total amount was 841.19 +1517.41 = 2358.60.