Answered: Some amount out of ₱7000.00 was lent at…

Some amount out of ₱7000.00 was lent at 6% per annum and the remaining at 4% per annum. If the total simple interest from both in 5 years was ₱1900.00, find the sum lent at 6% per annum.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.2: Use A Problem Solving Strategy

Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...

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Question

Some amount out of ₱7000.00 was lent at 6% per annum and the remaining at 4% per annum. If the total simple interest from both in 5 years was ₱1900.00, find the sum lent at 6% per annum.

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