SOLUTION: Mr. Graham invested some of his $18,000 in bonds and 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
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Question 141224: Mr. Graham invested some of his $18,000 in bonds and 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? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! Mr. Graham invested some of his $18,000 in bonds and 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?
:
Let x = amt invested at 5%
:
It said the total invested was 18000, therefore:
(18000-x) = amt invested at 12%
:
5% profit + 885 = 12% profit
.05x + 885 = .12(18000-x)
:
.05x + 885 = 2160 - .12x
:
.05x + .12x = 2160 - 885
:
.17x = 1275
x =
x = $7500 invested at 5%
;
:
Check solution find the profit on each; 18000-7500 = 10500 invested at 12%
.12*10500 = 1260
.05*7500 = 375
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difference = 885; confirms our solution
