SOLUTION: A business man nad made $1023 in interest on a yearly investment of $15,000. Part investment gained 6% and the rest 7.5%. How much was invested in each rate?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: A business man nad made $1023 in interest on a yearly investment of $15,000. Part investment gained 6% and the rest 7.5%. How much was invested in each rate?      Log On


   

Question 369592: A business man nad made $1023 in interest on a yearly investment of $15,000. Part investment gained 6% and the rest 7.5%. How much was invested in each rate?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
0.06x+0.075(15000-x)=1023
0.06x+1125-0.075x=1023
-0.015x=-102
x=6800 at 6%
15000-x=8200 at 7.5%