MathMaster logo

MathMaster

  1. Home
  2. general
  3. question victory saved 3 000 in first bank and 2 000 naira in union bank psc with interest rate of x and y per annual resp
Question

*Question!!* *Victory saved 3,000 in first bank and 2,000 Naira in union bank PSC with interest rate of X% and Y% per annual respectively his total interest in one year is #640. If she has saved 2,000 naira with first bank and 3,000 naira in union bank for same period she would have made extra 20# as additional interest, then find the value of X and Y

229

likes
1145 views

Answer to a math question *Question!!* *Victory saved 3,000 in first bank and 2,000 Naira in union bank PSC with interest rate of X% and Y% per annual respectively his total interest in one year is #640. If she has saved 2,000 naira with first bank and 3,000 naira in union bank for same period she would have made extra 20# as additional interest, then find the value of X and Y

Expert avatar
Brice
4.8
113 Answers
Let's set up an equation to solve for the interest rates. Let X% be the interest rate for the first bank and Y% be the interest rate for the Union bank. According to the information given, Victory earned a total interest of #640 in one year with the initial savings of 3,000 Naira in the first bank and 2,000 Naira in the Union bank. This can be expressed as: (3000 * X/100) + (2000 * Y/100) = 640 Additionally, if Victory had saved 2,000 Naira in the first bank and 3,000 Naira in the Union bank for the same period, she would have earned an extra 20 Naira as additional interest. This can be expressed as: (2000 * X/100) + (3000 * Y/100) = 640 + 20 Simplifying the equations, we have: 30X + 20Y = 640 (Equation 1) 20X + 30Y = 660 (Equation 2) To solve this system of equations, we can use the elimination method or substitution method. Let's use the elimination method: Multiplying Equation 1 by 3 and Equation 2 by 2, we have: 90X + 60Y = 1920 (Equation 3) 40X + 60Y = 1320 (Equation 4) Subtracting Equation 4 from Equation 3, we get: 90X - 40X = 1920 - 1320 50X = 600 X = 12 Substituting the value of X into Equation 1, we can solve for Y: 30(12) + 20Y = 640 360 + 20Y = 640 20Y = 280 Y = 14 Therefore, the value of X is 12% and the value of Y is 14%.

Frequently asked questions (FAQs)
What is the limit as x approaches infinity of (3x^2 + 2x - 5)/(4x^2 + 5x + 1)?
+
Find the derivative of y = cos(4x) − sin(2x) − tan(3x), where x is measured in radians.
+
What is the graph of the logarithmic function y = log(base 2)(x)?
+
New questions in Mathematics
solve the following trigo equation for 0°<= x <= 360°. sec x =-2
4.2x10^_6 convert to standard notation
Solve the math problem 400 students are asked if they live in an apartment and have a pet: Apartment: 120 Both: 30 Pet: 90 The probability that a randomly selected student not living in an apartment has a pet is
2.5 / 21.85
The bus one way of the road which is 10km is heading with speed of 20km/h ,then the bus the other 10km is heading with speed of 60km/h. The middle speed of the road is it equal with arithmetic speed of the v1 and v2 ?
Divide 22 by 5 solve it by array and an area model
7/6-(-1/9)
calculate the normal vector of line y = -0.75x + 3
Log5 625
7=-4/3y -1
Use the sample data and confidence level given below to complete parts​ (a) through​ (d). A drug is used to help prevent blood clots in certain patients. In clinical​ trials, among 4336 patients treated with the​ drug, 194 developed the adverse reaction of nausea. Construct a ​99% confidence interval for the proportion of adverse reactions.
From 1975 through 2020 the mean annual gain of the Dow Jones Industrial Average was 652. A random sample of 34 years is selected from this population. What is the probability that the mean gain for the sample was between 400 and 800? Assume the standard deviation is 1539
A cell phone company offers two calling plans. Plan A: $20 per month plus 5 cents for each minute, or Plan B: $30 per month plus 3 cents for each minute. [2] Write an equation to describe the monthly cost (a) C (in $) in terms of the time m (in minutes) of phone calls when Plan A is applied.
16.What payment (deposit) made at the end of each month will accumulate to $10473 in 13 years at 7.9% compounded monthly? Enter to the nearest cent (two decimals). Do not use $ signs or commas in the answer.
15.A newly married couple purchased a home with a $123710 down payment. They financed the remaining balance of the home with a mortgage. Their payments were $15395 at the end of every six months for 23 years and the interest rate was 10.6%, compounded semi-annually. How much did they purchase their home for. Enter to the nearest cent (two decimals). Do not use $ signs or commas in the answer.
A person runs 175 yards per minute write a variable that represents the relationship between time and distance
Total Users with an active Wise account = Total Active Users + Total Users who haven’t transacted Total Active Users = Total MCA Users + Total Send Users = Total New Users + Retained Users Total New Users = New Send Users + New MCA Users Total MCA Users = New MCA Users + Retained Users who transacted this month via MCA Total Send Users = New Send Users + Retained Users who transacted this month via Send Send CR = Total Send Users / Total Users with an active Wise account MCA CR = Total MCA Users / Total Users with an active Wise account New Send CR = New Send Users / New Profiles Created in Month New MCA CR = New MCA Users / New Profiles Created in Month We have recently witnessed a drop in MCA conversion, but send user conversion is stable, can you help explain why?
solve R the following equation 4 x squared - 35 - 9 over x squared is equal to 0
Sin(5pi/3)
15=5(x+3)

You might be interested in