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)
Math question: If a triangle has side lengths of 5, 7, and 9 units, what is its area using Heron's Formula?
+
Find the limit of (3x^2 + 2x - 1)/(5x - 2) as x approaches 2.
+
How many diagonals are present in a polygon with 10 sides?
+
New questions in Mathematics
To calculate the probability that a player will receive the special card at least 2 times in 8 games, you can use the binomial distribution. The probability of receiving the special card in a single game is 1/4 (or 25%), and the probability of not receiving it is 3/4 (or 75%).
a ferry travels 1/6 of the distance between two ports in 3/7 hour. the ferry travels at a constant rate. at this rate, what fraction of the distance between the two ports can the ferry travel in one hour?
what is 9% of 307
6. Among 100 of products there are 20 rejects. We will randomly select 10 of products. The random variable X indicates the number of rejects among the selected products. Determine its distribution.
Credit title that represents a payment order. This model, which emerged in Brazil, can only be issued in two specific situations: in the purchase and sale of commercial products or in the provision of services. Select the correct alternative: Question 6Answer The. Present value B. Promissory note w. Present value d. Duplicate It is. Bill of exchange
A merchant can sell 20 electric shavers a day at a price of 25 each, but he can sell 30 if he sets a price of 20 for each electric shaver. Determine the demand equation, assuming it is linear. Consider (P= price, X= quantity demanded)
Determine the general equation of the straight line that passes through the point P (2;-3) and is parallel to the straight line with the equation 5x – 2y 1 = 0:
find f(x) for f'(x)=3x+7
What’s the slope of a tangent line at x=1 for f(x)=x2. We can find the slopes of a sequence of secant lines that get closer and closer to the tangent line. What we are working towards is the process of finding a “limit” which is a foundational topic of calculus.
Nice's central library building is considered one of the most original in the world, as it is a mix between a sculpture and a work of habitable architecture. It was called La Tête Carrée and is made up of part of a bust that supports a cube divided into five floors. It is known that the building has a total height of approximately 30 meters. It admits that the cubic part of the sculpture is parallel to the floor and has a volume of 2744 meters3 Calculate, in meters, the height of the bust that supports the cube. Displays all the calculations you made.
Fill in the P(X-x) values to give a legitimate probability distribution for the discrete random variable X, whose possible values are -5 ,3 , 4, 5 , and 6.
A loan is repaid with payments of $2226 made at the end of each month for 12 years. If interest on the loan is 5.2%, compounded semi-annually, what is the initial value of the loan? Enter to the nearest cent (two decimals). Do not use $ signs or commas.
Nancy is a waitress at Seventh Heaven Hamburgers. She wants to estimate the average amount each table leaves for a tip. A random sample of 5 groups was taken and the amount they left for a tip (in dollars) is listed below: $11.00 $8.00 $6.00 $3.00 $7.00 a.) Find a 90% confidence interval for the average amount left by all groups. (*round to the nearest cent*) $ < μ < $ b.) If the sample size were larger, with everything else remaining the same, would the margin of Error increase or decrease? Decrease Increase c.) If the Confidence level were 95% instead of 90%, would the range (size) of the Confidence Interval be larger or smaller? Larger Smaller
Given the word WEIRD, determine a four-letter offspring that can be formed with the letters of the word written above
Determine the kinetic energy of a baseball whose mass is 100 grams and has a speed of 30 m/s.
The average undergraduate cost per tuition, fees, room, and board for all institutions last year was $26,025. A random sample of 40 institutions of higher learning this year indicated that the mean tuition, fees, room, and board for the sample was $27,690, and the population standard deviation is $5492. At the 0.05 level of significance, is there sufficient evidence that the cost has increased? (Remember to follow the steps in hypothesis testing)
Find the set of points formed by the expression 𝜋<|𝑧−4+2𝑖|<3𝜋.
A nondegenerate ideal gas of diatomic molecules with a kilomolar mass of 2 kg/kmol and a characteristic rotational temperature of 86 K is adsorbed on the walls of a container, where the binding energy is 0.02 eV. The adsorbed molecules move freely on the walls, and their rotation is confined to the plane of the walls. Calculate the surface density of adsorbed molecules at 12 K if the gas pressure is 103 Pa! What result would you get at 68 K and the same pressure?
56 × 12 = 672. How should you adjust this answer 672 to determine 57 × 12? a) The answer increases by 1 b) The answer increases by 57 c) The answer increases by 56 d) The answer increases by 12
question 1 Consider a sample space S, and two events A and B such that P(A ∩ B) = 0.2, P(A ∪ B) = 0.6, P(B ∪ ̄A) = 0.8 (a) [0.5 points] Calculate P (A). (b) [0.5 points] Calculate P (B)

You might be interested in