Question

Mr. Graham invested some of his $18,000 in bonds that made a 5% profit and the rest in bonds that made a 12% profit. If the profit on the 12% bonds was $885 more than the profit on the 5% bonds, how much did Mr. Graham
invest in the 5% bonds?

Answer 1

Answer:

$7500

Step-by-step explanation:

Let investment in 5% bond be x

(18000 - x) * 12% - x * 5% = 885

18000*12 - 12x - 5x = 88500

216000 - 88500 = 17x

x = 7500