Answer:
x= 8.00 Interest rate on $14000
y= 7.50 Interest rate on $7000
Step-by-step explanation:
Let interest rate of $14000 be x%
and Interest rate for $7000 be y %
According to the first condition
14000 * x% - 7000 * y% = 595
multiply by 100
14000x-7000y = 59500
/700
20x-10y=85.................(1)
II condition
x%=y%+0.5%
x=y+0.5
x-y=0.5..................................(2)
solve (1) & (2)
20 x -10 y = 85 .............1
Total value
1 x -1 y = 0.50 .............2
Eliminate y
multiply (1)by 1
Multiply (2) by -10
20.00 x -10.00 y = 85.00
-10.00 x + 10.00 y = -5.00
Add the two equations
10.00 x = 80.00
/ 10.00
x = 8.00
plug value of x in (1)
20.00 x -10.00 y = 85.00
160.00 -10.00 y = 85.00
-10.00 y = 85.00 -160.00
-10.00 y = -75.00
y = 7.50
x= 8.00 Interest rate on $14000
y= 7.50 Interest rate on $7000
