Interest is defined as the money paid for the use of money from some other person. It also defines how much money or other assets you pay for borrowings. For a given interval, it was the percentage rate of a principal.
Given:
Invested amount= 70,000
Extra income= 6,000
Invested amount of money percentage [tex]15\% \ and \ 7\%[/tex]
Solution:
Let the equation are:
[tex]\to x + y = 70,000 .................................(i) \\\\\to 0.15x +0.7y = 6000 .................................(ii)[/tex]
Solve the equation (i) and put the value into the equation (ii):
[tex]\to x = 70,000 - y\\\\\to 0.15( 70,000 - y) +0.7y = 6,000 \\\\\to 10,500- 0.15y+0.7y=6,000\\\\\to 10,500+ 0.55y=6,000\\\\\to 0.55y=6,000-10,500\\\\\to 0.55y=-4,500\\\\\to y=\frac{-4,500}{0.55}\\\\\to y=- 8,181.81818\approx - 8,181.8[/tex]
Putting the value of y into the equation (i):
[tex]\to x+(- 8,181.8)=70,000\\\\\to x=70,000+ 8,181.8\\\\\to x=7 8,181.8[/tex]
So, the final answer is "78,181.8 and -8,181.8".
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