SOLUTION: Mr collins invested a sum at 4% and an equal amount at 6%. His retun totals $40 per year. How much money was invested at each rate?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Mr collins invested a sum at 4% and an equal amount at 6%. His retun totals $40 per year. How much money was invested at each rate?      Log On


   



Question 70549: Mr collins invested a sum at 4% and an equal amount at 6%. His retun totals $40 per year. How much money was invested at each rate?
Answer by checkley75(3666) About Me  (Show Source):
You can put this solution on YOUR website!
.04X+.06X=40
.1X=40
X=40/.1
X=$400 IS THE AMOUNT INVESTED @ 4% & 6%.