On two investments totaling $11,500, Peter lost 3% on one and earned 4% on the other. If his net annual receipts were $⁢201, how

Question

Lubov Fominskaja [6]

4 years ago

5

On two investments totaling $11,500, Peter lost 3% on one and earned 4% on the other. If his net annual receipts were $⁢201, how

much was each investment?

Mathematics

1 answer:

BlackZzzverrR [31] · Answer 1 · 2022-01-02T10:03:12+03:00

Total amount of money invested - $11500
X +Y = $11500. ----------(1)
Total yearly interest for thetwo a/c is - $201
-0.03X + 0.04Y = $201
Form (1)
X = 11500 - Y
Substitute for X
-0.03(11500 - Y) + 0.04 Y = $201
-345 + 0.03Y + 0.04Y =201
0.07Y = 546
Y = 7800 at 4 %
Calculate X
X = 11500 - Y
= 11500 - 7800
=3700 at - 3%
Check
-0.03×3700 + 0.04 × 7800 = $201
-111 + 312 = $201
$201 = $201