This is the question: By the way the answer is 8000euro (the answer was at the back of the book) I just don't know how to get the answer. Thank you!
A person invests B euro in a building society at 4% per annum. At the end of the first year the person invested a further B euro, and left all the money in a society for a further year at 5% per annum. If the total investment at the end of the second year amounted to 17136 euro, find the value of B.
So here is how I would do the question if B was given:
8000 x 4%= 320 + 8000= 8320
8320+8000=16320
16320 x 5% = 816
16320 + 816 = 17136
And here is how I tried to work it out to get B but got stuck during the way
17136\105 x 100 = 16320
17136 - 16320 = 816 also 16320 x 5 over 100 = 816
so that means: B + B + (B x 4%) = 16320
So how mathematicaly doing the calculations can you get 8000. I am so confused. Thank you so much!
A person invests B euro in a building society at 4% per annum. At the end of the first year the person invested a further B euro, and left all the money in a society for a further year at 5% per annum. If the total investment at the end of the second year amounted to 17136 euro, find the value of B.
So here is how I would do the question if B was given:
8000 x 4%= 320 + 8000= 8320
8320+8000=16320
16320 x 5% = 816
16320 + 816 = 17136
And here is how I tried to work it out to get B but got stuck during the way
17136\105 x 100 = 16320
17136 - 16320 = 816 also 16320 x 5 over 100 = 816
so that means: B + B + (B x 4%) = 16320
So how mathematicaly doing the calculations can you get 8000. I am so confused. Thank you so much!