Question 179512
Mr. X invested an amount for 7% and twice that amount for 8%. At the end of the
 year the income was $11500. What was the amount invested at 7%? amount invested
 at 8%?
:
let x = amt invested at 7%
then
2x = amt invested at 8%
;
.07x + .08(2x) = 11500
.07x + .16x = 11500
.23x = 11500
x = {{{11500/.23}}}
x = $50,000 invested at 7%
and, obviously, $100,000 invested at 8%
;
;
Check by finding the interest of each
.07 * 50000 = 3500
.08 * 100000= 8000
-------------------
for a total = 11500