Civil Service Exam Reviewer · Word Problems · hard
₱110,000 was invested, part at 5% and the rest at 9% simple annual interest. The total interest after one year was ₱6,700. How much was invested at 5%?
- ₱30,000
- ₱55,000
- ₱80,000
- ₱74,444.44
Answer
C. ₱80,000
Solution
0.05x + 0.09(110,000 − x) = 6,700 → 0.04x = 3,200 → x = ₱80,000.
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