SOLUTION: Mr. Reyes invested a certain amount at 11% and five-sixths as much at 12% per year. If his annual income from the 11% investment is 540 more than the income from the 12% investment

Question 936894: Mr. Reyes invested a certain amount at 11% and five-sixths as much at 12% per year. If his annual income from the 11% investment is 540 more than the income from the 12% investment, how much did he invest at 12%?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Mr. Reyes invested a certain amount at 11% and five-sixths as much at 12% per year. If his annual income from the 11% investment is 540 more than the income from the 12% investment, how much did he invest at 12%?
Mr. Reyes invested a certain amount at 11%------------x
and five-sixths as much at 12% per year-------------%/6)x

.his annual income from the 11% investment ..............11%x

is 540 more than
the income from the 12% investment---------------(5/6)x*12%

11%x = (5/6)x*12% +540
multiply equation by 100
11x= 10x + 54000
x=54000 @ 11%
(5/6)*54000 = 45000 @12%

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