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?
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%
