Determine the value of Y.
2 answers:
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She invested $ 50000 at 1.5% rate and $ 90000 at 4% rate.
<u><em>Explanation</em></u>
Total amount of winnings = $ 200000
She first paid income tax on 30% on the winnings. So, the amount paid as income tax dollar.
<u>Remaining amount</u> = $ 200000 - $ 60000 = $ 140000
Suppose, she invested dollar at 1.5% rate.
That means, she invested dollar at 4% rate.
Given that, the total amount of interest earned = $ 4350
So, the equation will be.....
So, amount of investment at 1.5% rate = $ 50000
and amount of investment at 4% rate = $ 140000 - $ 50000 = $ 90000