A businessman invested a total of N200,00 in two companies which paid dividends of 5% and 7% respectively.If he received a hotel of N11,600 as dividends, how much did he invest at 5%?

tiamiyurainat602

5 years ago

Please jherrytex
How did u get
-. 07×-. 07=-14000
Please I would like you to explain better for me

Bolu_watife

2 years ago

Let the amount invested at 5% be X

so the amount invested at 7% will be (N200 000-x)

i.e 5% of x +7% of (N200 000-x) = N11 600

Multiply through by 100
5x +7(N200 000-x) =N1 160 000
5x+1 400 000 -7x = 1 160 000
1 400 000-1 160 000=7x-5x
240 000= 2x
x=240 000/2
x=120 000