Answer:
The amount invested at 5% was $12000
The amount invested at 6% was $8000
Step-by-step explanation:
Let
x be the amount invested at the rate 5%
and 20000-x be the amount invested at 6%
The profit is $1080
The equation will be:
0.05x + 0.06(20000-x) = 1080
0.05x + 1200 - 0.06x = 1080
0.05x-0.06x = 1080-1200
-0.01x = -120
0.01x = 120
x = 120/0.01
x= $12000
The amount invested at 5% was $12000
And the amount invested at 6% was:
= 20000-12000
= $8000 ..