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Unilorin Post-UTME Mathematics 2018 (Model questions) Question 31

Question 31

Commercial Arithmetic

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%.

  1. A.₦160,000
  2. B.₦140,000
  3. C.₦120,000
  4. D.₦80,000
Show the answer and explanation

Answer: C (₦120,000)

Explanation

0.05x + 0.07(200,000 − x) = 11,600 gives 14,000 − 0.02x = 11,600, so x = ₦120,000.