Question

An investment of ​$93000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned​ 8% interest, the second​ 6%, and the third​ 9%. Total interest from the investments was $ 7170. The interest from the first investment was 6 times the interest from the second. Find the amounts of the three parts of the investment.

Answer 1

Answer:

Amount of three parts of investment are

72000, 16000 and 5000

Explanation:

We have given total investment = $93000

Let the investment made by three businessman are x , y and z

So $x+y+z=93000$-----eqn 1

It is given interest rates are 8 % , 6% and 9 %

And time = 1 year

Total interest = $7170

So $0.08x+0.06y+0.09z=7170$----eqn 2

It is given that interest from first investment is 6 times the interest from second investment

So $0.08x=6\times 0.06y$

$0.08x=0.36y$ ----- eqn 3

After solving eqn 1 eqn 2 and eqn 3

x = 72000

Y = 16000

And z = 5000