Answer:
Kindly check explanation
Step-by-step explanation:
Given the following :
Amount inherited = $200,000
Portion used to build house = h
Invested amount = 200,000 - h
1/3 of (200,000 - h) was invested at 12%
2/3 of 200,000 - h was invested at 15%
Interest from both investment = 8400
Cost of building =?
Using the simple interest formula :
Principal(P) * rate(r) * time
If the investment was for a year:
1st investment :
(200,000 - h)/3 * 0.12 * 1 = (24000 - 0.12h) / 3 = (8000 - 0.04h)
2nd :
(200,000 - h)*2/3* 0.15 * 1 = (20,000 - 0.1h)
Summing both :
8000 - 0.04h + 20,000 - 0.1h = 8400
28000 - 0.14h = 8400
-0.14h = 8400 - 28000
-0.14h = - 19600
= 140,000
