Problema Solution
Phyllis invested $50,000 in two different types of stocks. The first type earned 10% interest, and the second type earned 15% interest. If the 15% interest stock earned $2500 more than the 10% stock, how much did Phyllis invest in the 15% stock?
Answer provided by our tutors
let
x = the money invested at 10%
y = the money invested at 15%
Phyllis invested $50,000 in two different types of stocks
x + y = 50000
the 15% interest stock earned $2500 more than the 10% stock
0.15y = 2500 + 0.10x
by solving the system of equations
x + y = 50000
0.15y = 2500 + 0.10x
we find
x = $20,000
y = $30,000
click here to see the step by step solution of the system of equations
Phyllis invested $30,000 at 15% interest stock.