Nigel's Investment 2

Algebra Level 1

In one year, Nigel earned the same amount of interest from an investment at 8% annual interest as an investment at 12% annual interest. He had invested $1500 more at 8%. How much money did he have invested at 12%?

Note: If you enjoyed this questions, try Nigel's Investment: https://brilliant.org/community-problem/nigels-investment/?group=dMGh42wHjYX6


The answer is 3000.

Terry McTerrier by Terry McTerrier , 21, USA

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2 solutions

Z K
Mar 25, 2014

The answer is 3000. I was pretty hard to solve. Great question!!

1 Helpful 0 Interesting 0 Brilliant 0 Confused

it was very easy question.....try 2 gve sme hrd ones....

Ravik Ganguly - 7 years, 1 month ago

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The problem is clearly stated as LEVEL 1. If you would like a harder question, try a LEVEL 2. Easy huh?

Terry McTerrier - 7 years, 1 month ago

Say, $x was invested at 12%. So, $(x + 1500) was invested at 8%.

x 12/100 = (x+1500) 8/100

Solving the above equation, x = $300

0 Helpful 0 Interesting 0 Brilliant 0 Confused

It is 3000 and not 300.

A Former Brilliant Member - 7 years, 2 months ago

correct

Waquas Alam - 7 years, 3 months ago

Given

P1 = 1500 + x

P2 = x

r1 = 8%

r2 = 12%

Using formula I=Prt

where I is the Interest

P is the Principal

r is the rate of interest

t is the term:

Interest of Principal 1 at 8% = Interest of Principal 2 at 12%

Prt = Prt

(1500 + x)(.08) = x(.12)

120 + .08x = .12x

.08x - .12x = 120

.04x = 120

x = 120/.04

x = 3000

Answer: $3000

Mia Catapang - 6 years, 3 months ago

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