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
110 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)
Math question: In a circle, find the measure of angle AOC if angle ABC measures 80°.
+
What is the measure of an angle formed by the diagonals of a quadrilateral?
+
What are the major and minor axes of an ellipse with equation (x^2/a^2) + (y^2/b^2) = 1?
+
New questions in Mathematics
A pump with average discharge of 30L/second irrigate 100m wide and 100m length field area crop for 12 hours. What is an average depth of irrigation in mm unIt?
Solution to the equation y'' - y' - 6y = 0
A car tire can rotate at a frequency of 3000 revolutions per minute. Given that a typical tire radius is 0.5 m, what is the centripetal acceleration of the tire?
Solve: −3(−2x+23)+12=6(−4x+9)+9.
The ratio of tomatoes to red apples is 2:5. If there are 20 tomaoes in the garden, how many red apples are there?
Supposed 60% of the register voters in a country or democrat. If a sample of 793 voters is selected, what is the probability that the sample proportion of Democrats will be greater than 64% round your answer to four decimal places
In a store, a person carries 14 kilos of rice and 28 kilos of flour. In what ratio are the kilos found? (Remember to simplify until you reach an irreducible fraction)
Log(45)
Clara usually walks briskly to the farmers' market and it takes her 22 minutes. Today she walked leisurely and it took 61/2 minutes. How much more time than usual did she take to reach the market today?
prove that if n odd integer then n^2+5 is even
Prove that it is not possible to arrange the integers 1 to 240 in a table with 15 rows and 16 columns in such a way that the sum of the numbers in each of the columns is the same.
I want you to solve this problem as a grade sixth pupil in primary school: 8 Pigs ate 6 bags of fee in 20 days. How long will it take 10 pigs to eat 15 bags of feed eating at the same rate?
Is -11/8 greater than or less than -1.37?
The two sides of the triangle are 12 cm and 5 cm, and the angle between the sides is 60°. Cover the area of ​​the triangle!
Find the equation of a straight line that has slope 3 and passes through the point of (1, 7) . Write the equation of the line in general forms
What is the percentage of nitrogen abundance in copper dinatrate Cu(NO3)2
The slope of the tangent line to the curve f(x)=4tan x at the point (π/4,4)
Find the orthogonal projection of a point A = (1, 2, -1) onto a line passing through the points Pi = (0, 1, 1) and P2 = (1, 2, 3).
Let f(x)=-1/2x+5 evaluate f(-6)
13/25+7/16