Question

a portion of 300,000 is invested at 15% and the remainder is at 21%. if the incomes from the two investments are the same, how much is invested at 15%?

Answer 1

Answer:

Given portion of money = $ 3,00,000

Assume ,

Invested at 15% = x

Invested at 21% = ($ 3,00,000 - x)

Incomes from two investments are same ,so that

• 15%of x = 21%of ($ 3,00,000 - x)
• (15/100)x = (21/100)*($ 3,00,000 - x)
• 0.15x = 0.21* ($ 3,00,000 -x)
• 0.15x = 0.21*$ 3,00,000 - 0.21x
• 0.15x+0.21x = $ 63,000
• 0.36x = $ 63,000
• x = $ 63,000 / 0.36
• x = $ 1,75,000

Therefore ,

• Money invested at 15% = $ 1,75,000
• Money invested at 21% = $ 1,25,000

So, both investments give same income at that rates.