SOLUTION: Hello! I'm insanly confused by a word problem. It is: "Mr. Graham invested some of his $18,000 in bonds that made a 5% profit and the rest in bonds that made a 12% profit. If th

Algebra ->  Polynomials-and-rational-expressions -> SOLUTION: Hello! I'm insanly confused by a word problem. It is: "Mr. Graham invested some of his $18,000 in bonds that made a 5% profit and the rest in bonds that made a 12% profit. If th      Log On


   

Question 589325: Hello! I'm insanly confused by a word problem. It is:
"Mr. Graham invested some of his $18,000 in bonds that made a 5% profit and the rest in bonds that made a 12% profit. If the profit on the 12% bonds was $885 more than the profit on the 5% bonds, how much did Mr. Graham invest in the 5% bonds?"
Thanks for the help!
Joey
Found 2 solutions by richwmiller, Edwin McCravy:
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
x+y=18000
.12x=885
x=7375 at 12%, y=10625 at 5%

Answer by Edwin McCravy(20059) About Me  (Show Source):
You can put this solution on YOUR website!
Hello! I'm insanly confused by a word problem. It is:
"Mr. Graham invested some of his $18,000 in bonds that made a 5% profit and the rest in bonds that made a 12% profit. If the profit on the 12% bonds was $885 more than the profit on the 5% bonds, how much did Mr. Graham invest in the 5% bonds?"
Thanks for the help!
 
                        Amount     Rate    Profit                                
At lower profit rate      x        .05      .05x
At higher profit rate     y        .12      .12y

                            x + y = 18000

>>...the profit on the 12% bonds was $885 more than the profit on the 5% bonds...<<

                             .12y = .05x + 885


Solve the system:
                            x + y = 18000
                             .12y = .05x + 885

and get x = $7500, y = $10500

Answer: $7500 at 5%

Edwin