SOLUTION: A man sold a piece of land and set aside 80% of the proceeds, from the sale for investment. One fourth of this amount was invested in a business venture earning 157 and the remaind

Question 498807: A man sold a piece of land and set aside 80% of the proceeds, from the sale for investment. One fourth of this amount was invested in a business venture earning 157 and the remainder in one earning 20% at the end of the year. If his earnings from the two investment amounted to 9000. Find the selling price of the land

Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
price of land was x
.8 * x was set aside.
he invested .25 * .8 * x in a business venture that earned 157 by the end of the year.
he invest .75 * .8 * x in a business venture that earned 20% by the end of the year.
his total earnings were 9,000
what was the selling price of the land?
his total earnings were:
157 from investment A
.20 * .75 * .8 * x from investment B
his total earnings were 9000
this means that:
157 + (.20 * .75 * .8 * x) = 9000
subtract 157 from both sides of this equation to get:
.20 * .75 * .8 * x = 8843
simplify this to get:
.12 * x = 8843
divide both sides of this equation by .12 to get:
x = 73691.67
that's the selling price of the land.
80% of that was set aside for investment.
that would be equal to 58953.33333
25% of that was invested and earned 157 dollars.
75% of that was invested and earned 20%.
.75 * 58953.3333 = 44215 that earned 20%.
this means that 44215 earned 8843
total earnings were 9000
157 + 8843 = 9000
your answer is that the selling price of the land was $73,691.67

RELATED QUESTIONS
The total proceeds from a used book store sale were $250. A total of 91 books were sold.... (answered by stanbon)

I am having some trouble trying to figure this out and how to set it up. Could you please (answered by stanbon)

A piece of rural land sold 10 years ago for $40,000. The price for the same piece of land (answered by richwmiller)

Zippy Corporation just purchased computing equipment for $28,000. The equipment will be... (answered by solver91311)

At the beginning of the bake sale, Mary set aside 4 pies for herself. Karen then bought... (answered by lwsshak3)

A theatre contains 496 seats and the ticket prices for a recent play were $52 for adults... (answered by ewatrrr)

It isn't so much that I can't work out equations, but that I have a hard time figuring... (answered by ankor@dixie-net.com)

Question from Percentage discount and commission..... A man sold fountain pen for rs 125... (answered by rfer,MathTherapy)

My question is a word problem, Part of the proceeds from a garage sale was $280 worth of... (answered by mananth)