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James Vincent invested a part of 150,000 at 7% and the remaining part at 5%.How much did he invest at 7% if he received a total interest of 10,000 after a year?

 Sep 16, 2020
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Amount invested at 7% = S

Amount invested at 5% =150,000 - S

 

0.07S  +  0.05*[150,000 - S] =10,000, solve for S

 

S =$125,000 amount invested at 7%

$150,000 - $125,000 =$25,000 amount invested at 5%

 Sep 16, 2020

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