A man invested a total of ₦50,000 in two companies which pay dividends of 6% and 8% respectively. How much did he invest at 8% if the total yield is ₦3,700?
Worked solution (try it first)
Let x be the amount at 8%.
Then 50000−x is at 6%.
The yields add up to 3700: 0.06(50000−x)+0.08x=3700, which is 3000+0.02x=3700.