SOLUTION: A man invested $6,000, part of it at 5% simple intrest and the rest at 7% simple intrest. If his annual intrest income is $372, how much did he invest in each rate?

Question 211194: A man invested $6,000, part of it at 5% simple intrest and the rest at 7% simple intrest. If his annual intrest income is $372, how much did he invest in each rate?
Answer by math problem solving(30) (Show Source): You can put this solution on YOUR website!
Let x be the amount of money invested at 5%.
Then the amount invested at 7% is 6000 - x.
The interest earned from the money invested at 5% is x*5%
The interest earned from the money invested at 7% is (6000 - x)*7%
As the total interest earned from the two investments is given as $372, we have:
x*5% + (6000 - x)*7% = 372
Solving for x, we get
5x + 7(6000 - x) = 37200 (multiply both sides by 100)
5x + 42000 - 7x = 37200
-2x + 42000 = 37200
-2x = -4800
x = 2400
So $2,400 is invested at 5%, and $6,000 - $2,400 = $3,600 is invested at 7%.

RELATED QUESTIONS
a teacher invested $11,000 in two accounts. part of the money was invested at 8% annual... (answered by solver91311)

Larry invested part of his 15000 advance at 8% annual simple intrest and the rest at 6%... (answered by jorel1380)

Sue invested 10,000, part at 3.8% annual intrest and the balance at 7% annual intrest.... (answered by josmiceli)

A man invested $6,000, part of it at 5% simple interest and the rest at 7% simple... (answered by Earlsdon)

A man invested $6000, part of it at 5% simple interest and the rest at 7% simple... (answered by checkley71)

a man invested $6000, part of it at 5%simple interest and the rest at 7% simple interest. (answered by checkley77)

A man invested $6000, part of it at 5% simple interest and the rest at 7% simple... (answered by checkley77)

The sum of $4000 is invested, part at 6% intrest and the rest at 4%. If the annual... (answered by jorel1380)