Question

Mr. Azu invested an amount at rate of 12% per annum and invested another amount, GH¢

580.00 more than the first at 14%. If Mr. Azu had total accumulated amount of

GH¢2,358.60, how much was his total investment?

Answer 1

Let total amount invested be x at rate 12%.

so amount invested at rate 14% will be x+580.00

total account collected at end of year is 2358.6

2358.6 GHc

So

$x(1.12) + (x+580.0)(1.14) = 2358.6$

solving this,

we get 

$1.12x+1.14x +580*1.14 = 2358.6$

$2.26x + 661.2=2358.6$

$2.26x = 2358.6 - 661.2$

$2.26x = 1697.4$

$x=751.06$  GHc