Answered: Sary invested certain amount of money…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

Sary invested certain amount of money in two schemes A and B, which offer interest at the rate of 8% per annum and 9% per annum respectively. He received Rs. 1860 annual interest. However, had he interchange the amount of investment in two schemes, he would have received Rs. 20 as more as annual interest. How much
money did he invest in each school?

Expert Solution

Step 1

Let the amount of investments in schemes A and B be Rs. x and Rs. y, respectively.

Step 2

Given that, interest rate in scheme A is 8% and in scheme B is 9% and he received Rs. 1860 annual interest.

Therefore, we get

Algebra homework question answer, step 2, image 1

Step 3

Also given that if he interchange the amount of investment in two schemes, he would have received Rs. 20 as more as annual interest.

Therefore, we get

Algebra homework question answer, step 3, image 1

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