Answer to Question #194140 in Financial Math for Zethembiso

Question

Mr Mangena invested an amount of R13890 divided in two different schemes A and B, at the simple interest rate of 14% per annum and 11% per annum respectively. If the total amount of simple interest earned in three years is R5 508. What was the amount invested in scheme B

Answer 1

given information

invested amount = R13890

simple interest rate = 14%

scheme B simple interest = 11%

simple interest earned in three years = R5508

the invested amount in scheme A be RS x and that in scheme B be (R13890- x)

To compute the Sum invested in scheme B the expression will be

$= [X \times 14 \times3] 100 + [(R13890 -x) \times 11\times3] 100 = R5508$

$42x - 33x = R550800 -(R13890 \times 33)$

 9x = R550800 - R458370

  9x = R92430

$x = \frac{R92430 }{9}$

   x = R10270

therefore, the invested amount in scheme B is

   = R13890 - R10270

    = R3620