Ronald invested Php 100 000 in stocks and bonds last year. At the end of the year, his investment in stocks earned 6% while his investment in bonds earned 2%. If the combined investment income was Php 4 600, how much did he invest in stocks? (Note: Answer should not have spaces or commas. Do not include the peso sign.)
To solve this problem, we can set up a system of equations based on the given information.
Let's assume that Ronald invested x amount of money in stocks and 100000 - x in bonds. Since the investment in stocks earned 6%, the investment income from stocks would be 0.06x. Similarly, the investment income from bonds would be 0.02(100000 - x).
According to the problem, the combined investment income was PHP 4600. So, we can set up an equation:
0.06x + 0.02(100000 - x) = 4600
Simplifying the equation:
0.06x + 2000 - 0.02x = 4600
0.04x + 2000 = 4600
0.04x = 4600 - 2000
0.04x = 2600
x = 2600 / 0.04
x = 65000
Therefore, Ronald invested PHP 65000 in stocks.