Concept explainers
To find the invested amount in each rate if her income from 8% investment is two thirds that of the 7.2% investment..
Answer to Problem 12P
The amount which is
Explanation of Solution
Formula:
Given that total amount which is
Formula:
Let total amount invested in 8% be x
Now, remaining amount
Thus, the total interest amount of 8% will be equal to two third of 7.2%
Now, Compare both equation (i) and (ii) and multiply by
Now, amount invested in 8% be
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Algebra and Trigonometry: Structure and Method, Book 2
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