Answer: he invested $15000 in part 1 and $60000 in part 2
Step-by-step explanation:
Let x represent the amount of money invested in part one.
Let 4x represent the amount of money invested in part 2 .
Total amount of money invested in part 1 and part 2 is
x + 4x = 5x
The formula for simple interest is expressed as
I = PRT/100
Where
P is the principal or initial amount.
T is the duration in years
R is the number rate.
For part 1
R = 7%
T = 1 year
P = x
I = (x × 7 × 1)/100 = 0.07x
For part 2,
R = 11%
T = 1 year
P = 4x
I = (4x × 11 × 1)/100 = 0.44x
if the total annual income from interest is 7650. This means that
0.44x + 0.07x = 7650 - - - - - - - -2
0.51x = 7650
x = 7650/0.51
x = 15000
Amount invested in part 1 is $15000
Amount invested in part 2 is 4×15000 = $60000
