Posted by Me on Thursday, March 25, 2010 at 12:57pm.
John invested $2500, part at 8% and the rest at 12% per annum. The two parts earned equal amount of interest in one year. How much was invested at each rate?
Math - Tiffany, Thursday, March 25, 2010 at 1:11pm
All you have to do is multiply parts of the 2500 by .08 and .12 then find which amount is the same.
EXP 1250 * .08 = 100 1250 * .12 = 150 since those don't match go to 1300*.08 and 1200*.12 and so on untill you find the same answer
Math - Reiny, Thursday, March 25, 2010 at 1:58pm
Let the amount invested at 8% be x
then the amount invested at 12% is 2500-x
.08x = .12(2500-x)
times a 100
8x = 12(2500-x)
8x = 30000 - 12x
20x = 30000
x = 1500
So John investe $1500 at 8% and $1000 at 12%
Check: .08(1500) = 120 , and .12(1000) = 120
Math - Tiffany, Thursday, March 25, 2010 at 2:13pm
would you really have to multiply .08 and .12 by 100 or could you leave it the way it is?
Math - Reiny, Thursday, March 25, 2010 at 2:38pm
You could just work with the decimals.
I just like to work with whole numbers rather than decimals or fractions.
That is because calculators did not exist for most of my teaching career and we had to do calculations in our heads or with pencil and paper.
Math - Tiffany, Thursday, March 25, 2010 at 3:24pm
I see well think you for showing me an easier and faster way to figure that problem out. I was taught the long way on most math problems.
Answer This Question
More Related Questions
- math - 8.Mary invested RM3000 in two accounts, some at 12% per annum and the ...
- Help Please Math - A principal of $2500 is invested,part at 8% per annum and the...
- math - If you invest $2500 for one year, part at 8% and part at 12%.....how much...
- Math - I hate word problems! Can anyone just change this Following word prob to...
- math - you invested $4000 in two accounts paying 2% and 9% annual interest, ...
- Math - An investment advisor invested a total of $12,000, part at 2.5% annual ...
- algebra - mary had 25000 dollars to invest. she invested part of that amount at ...
- Algebra - The Smiths invested $14,000, part at 3% simple interest and the rest ...
- intermediate algebra - need the equation for this problem. Mike invested $706 ...
- Math - Larry has an annual return of $213.00 from $3000.00 invested at simple ...