Question 165348
"A man invests a certain sum of money at 14% and twice that amount at 15%. If his total interest earnings are $660 per year, how much has he invested at 14% and how much at 15%?"
.
Let x = amount invested at 14%
then
2x = amount invested at 15%
.
.14x + .15(2x) = 660
.14x + .30x = 660
.44x = 660
x = 660/.44
x = $1500 (amount invested at 14%
.
Amount invested at 15%:
2x = 2(1500) = $3000 (amount invested at 15%)