SOLUTION: A businessman invests total of $200,000 in two companies which paid dividends of 5% and 7% respectively. If he received a total of $11,600, how much did he invest at 7%

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Question 934187: A businessman invests total of $200,000 in two companies which paid dividends of 5% and 7% respectively. If he received a total of $11,600, how much did he invest at 7%
Answer by ptfile(81) About Me  (Show Source):
You can put this solution on YOUR website!
Let x = amount invested at 5%
    y = amount invested at 7%

A businessman invests total of $200,000 in two companies which paid dividends of 5% and 7% respectively.
x+y=200000

If he received a total of $11,600
.05x.07y=11600
   x+  y=200000

-.07x-.07y=-14000
 .05x+.07y= 11600
------------------
     -.02x=-2400
         x=120000
         y= 80000

At the interest rate 7%, he only invested $80,0000.