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A businessman invested a total of N200,000 in two companies which paid dividends...


Question

A businessman invested a total of N200,000 in two companies which paid dividends of 5% and 7% respectively. If
he received a total of ₦11,600, how much did he invest at 7%?

Options

A) ₦140,000

B) ₦160,000

C) ₦80,000

D) ₦100,000

The correct answer is C.


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Dicussion (1)

  • Money invested in 7% =x
    Money invested in 5% =200000-x
    5/100(200000-x) + 7/100(x) =11600
    (1000000-5x)/100 + 7x/100 =11600
    (1000000-5x+7x)/100=11600
    1000000-5x+7x=1160000
    2x=160000
    x=80000