SOLUTION: Mr.Batti invested twice as much money in an account that pays 9% interest as he did in an account that pays 7% in interest. His total investment pays him 1,250 a year in interest.

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Mr.Batti invested twice as much money in an account that pays 9% interest as he did in an account that pays 7% in interest. His total investment pays him 1,250 a year in interest.       Log On


   

Question 321527: Mr.Batti invested twice as much money in an account that pays 9% interest as he did in an account that pays 7% in interest. His total investment pays him 1,250 a year in interest. How much did he invest at each rate? THANKS.
Answer by mananth(16949) About Me  (Show Source):
You can put this solution on YOUR website!
let him invest x at 7%
hw will invest 2x at 9%
..
Interest equation
0.07x+0.09x=1250
multiply by 100
7x+9x=125000
16x=125000
x=125000/16
=7812.50 at 7%
..
2x= 2*7812.50
=15625.00 at 9%