PhP 20,000.00 was invested at simple interest, part at 11% for two years and the rest at 8% for three years. The total interest earned was PhP 4690.00. How much was invested at 11%?

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter19: Capital Investment
Section: Chapter Questions
Problem 19E
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PhP 20,000.00 was invested at simple interest, part at 11% for two years and the rest at 8% for three years. The total interest earned was PhP 4690.00. How much was invested at 11%?
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