A business man invested a total of \(\# 200,000\) in two companies which paid dividends of \(5 \%\) and \(7 \%\) respectively. If he received a total of \(\# 11,600\) as dividend. how much did he invest at \(5 \%\) ?
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Correct Answer: Option C
Explanation:
Let amount invested in company \(A\) be \(x\) : then amount invested in company \(B\) would be \((200,000-x)\) for \(5 \%\) and \(7 \%\) dividend. we have
\(0.05(x)+0.07(200.000-x)=11600\)
\(0.05 x-0.07 x=11600-14000\)
\(x=\frac{-2400}{-0.02} \cdot x=120.000\)
Let amount invested in company \(A\) be \(x\) : then amount invested in company \(B\) would be \((200,000-x)\) for \(5 \%\) and \(7 \%\) dividend. we have
\(0.05(x)+0.07(200.000-x)=11600\)
\(0.05 x-0.07 x=11600-14000\)
\(x=\frac{-2400}{-0.02} \cdot x=120.000\)