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Madam beautiful had a total of 20000 to invest. She decided to invest part at 3% and the rest at 2%. After one year she earned a total of 520. How much did she invest at each rate? Use cramers rule?
Madam beautiful had a total of 20000 to invest. She decided to invest part at 3% and the rest at 2%. After one year she earned a total of 520. How much did she invest at each rate? Use cramers rule?
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Jan 11
Let's assume Madam Beautiful invested x amount at 3% and (20000 - x) amount at 2%.
According to the given information, the interest earned from the 3% investment is 0.03x, and the interest earned from the 2% investment is 0.02(20000 - x).
The total interest earned is 520, so we can write the equation:
0.03x + 0.02(20000 - x) = 520
Simplifying the equation, we get:
0.03x + 400 - 0.02x = 520
Combining like terms, we have:
0.01x + 400 = 520
Subtracting 400 from both sides, we get:
0.01x = 120
Dividing both sides by 0.01, we find:
x = 12000
So, Madam Beautiful invested $12,000 at 3% and $8,000 (20000 - 12000) at 2%.