Civil Service Exam Reviewer · Word Problems · hard
₱170,000 was invested, part at 3% and the rest at 6% simple annual interest. The total interest after one year was ₱9,600. How much was invested at 3%?
- ₱150,000
- ₱20,000
- ₱85,000
- ₱160,000
Answer
B. ₱20,000
Solution
0.03x + 0.06(170,000 − x) = 9,600 → 0.03x = 600 → x = ₱20,000.
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