SOLUTION: Qantas shares pay a yearly return of 9% and Telstra shares pay 11%. John invests $1500 more on Telstra shares than on Qantas and his total yearly earnings from the two investments

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Qantas shares pay a yearly return of 9% and Telstra shares pay 11%. John invests $1500 more on Telstra shares than on Qantas and his total yearly earnings from the two investments       Log On


   

Question 637362: Qantas shares pay a yearly return of 9% and Telstra shares pay 11%. John invests $1500 more on Telstra shares than on Qantas and his total yearly earnings from the two investments is $1475. How much did he invest in Qantas shares?
Answer by god2012(113) About Me  (Show Source):
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LET THE INVESTMENT OF JOHN IN QANTAS BE $'X'.
THEREFORE, INVESTMENT IN TELSTRA IS $'(X + 1500)'.
EARNINGS FROM QANTAS = 9 * X /100 .
EARNINGS FROM TELSTRA = 11 * (X + 1500) / 100
TOTAL EARNINGS = (9X + 11 (X + 1500))/100 = 1475
9X + 11X + 16500 = 147500
20X = 147500-16500
20X = 131000
X = $6550
THEREFORE, JOHN INVESTED $6550 IN QANTAS SHARES