PLEASE HELP.. HERE'S THE QUESTION....
RYAN IS GOING TO INVEST $4000 INTO 2 INVESTMENT OPTIONS. ONE OPTION PAYS 3% AND THE OTHER OPTION PAYS 3.5% SIMPLE INTEREST. HOW MUCH DID RYAN INVEST IN EACH OPTION IF THE INTEREST EARNED IN THE OPTION PAYING 3.5% SIMPLE INTEREST IS $94.50 MORE THAN THE INTEREST EARNED IN THE 3% OPTION?
x at 3%
4000-x at 3.5%
.035(4000-x) = .03x + 94.50
x = 700
so, $700 at 3%, $3300 at 3.5%
check: .03*700 = 21.00
.035*3300 = 115.50 = 21.00+94.50
ali's father gave him Rs. 245 for buying stamps. he brought stamps of Rs. 5, Rs. 10 and Rs. 15. the n of the stamps of RS. 5 and Rs. 15 were 2:3 and 1:5 of the no. of Rs. 10 stamps, find the no of each type of stamps he got.
To solve this problem, let's set up the equation.
Let x be the amount invested in the option paying 3% simple interest,
then the amount invested in the option paying 3.5% simple interest will be $4000 - x.
We know that the interest earned in the option paying 3% is 0.03x (since 3% can be written as a decimal as 0.03),
and the interest earned in the option paying 3.5% is 0.035(4000 - x) (since 3.5% can be written as a decimal as 0.035).
According to the problem, the interest earned in the option paying 3.5% is $94.50 more than the interest earned in the 3% option.
This can be written as the equation: 0.035(4000 - x) = 0.03x + $94.50.
Now let's solve for x.
First, distribute the 0.035 to 4000 and -x:
0.035 * 4000 - 0.035x = 0.03x + $94.50.
Next, simplify the equation:
140 - 0.035x = 0.03x + $94.50.
Now, add 0.035x to both sides of the equation:
140 = 0.065x + $94.50.
Subtract $94.50 from both sides of the equation:
45.50 = 0.065x.
To isolate x, divide both sides of the equation by 0.065:
x = 45.50 / 0.065.
Evaluating this expression gives us:
x ≈ 700.
So, Ryan invested approximately $700 in the option paying 3% simple interest.
Therefore, he invested $4000 - $700 = $3300 in the option paying 3.5% simple interest.