Answer :
Answer:
The amount $15000 is divided as
in 2% = $7000
in 5% = $8000
Step-by-step explanation:
It is given that the total amount is $15000 and rates of interests are 2% and 5%.
Let the amount invested in 2% be "x", so the amount invested in 5% is (15000 - x).
The annual interest on x part is given as,
= [tex](\frac{2}{100})(x)[/tex]
Similarly, The annual interest on (15000 - x) part is given as,
= [tex](\frac{5}{100})(15000 - x)[/tex]
the total annual interest is given as $540
Thus, 540 = [tex](\frac{5}{100})(15000 - x) + (\frac{2}{100})(x)[/tex]
54000 = [tex]2(x) + 75000 - 5(x)[/tex]
21000 = 3(x)
x = [tex]\frac{21000}{3}[/tex] = 7000
Thus the shares are $7000 and (15000 - 7000) $8000 .