On two investments totaling $11,500, Peter lost 3% on one and earned 4% on the other. If his net annual receipts were $201, how much was each investment?
Total amount of money invested - $11500 X +Y = $11500. ----------(1) Total yearly interest for thetwo a/c is - $201 -0.03X + 0.04Y = $201 Form (1) X = 11500 - Y Substitute for X -0.03(11500 - Y) + 0.04 Y = $201 -345 + 0.03Y + 0.04Y =201 0.07Y = 546 Y = 7800 at 4 % Calculate X X = 11500 - Y = 11500 - 7800 =3700 at - 3% Check -0.03×3700 + 0.04 × 7800 = $201 -111 + 312 = $201 $201 = $201
