Question

A total of Php600,000 is invested into two simple interest accounts. The annual simple interest rate on one account is 9% while on the second account, the annual simple interest rate is 6%. How much should be invested in each account so that both accounts earn the same amount of annual interest?

Answer 1

Interest = (rate * amount) / 100

let x be amount invested in 9% account
so 600,000 - x will be invested in the 6% account
interest is the same , so
9x / 100 = 6 (600,000 - x)/100

solve this for x

Answer 2

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