Answer
He invested 700 dollars at 6% interest. He invested 500 dollars at 4% interest.
Work Step by Step
Let X represent the amount of money invested at 6% interest.
At the end of the year, he received 6% $\times$ X = 0.06X
Since he invested 1200 dollars total, at 4% interest he invested 1200 - X. At the end of the year, he received 4% $\times$ (1200 - X) = 48 - 0.04X
The total yearly interest from both investments was 62, so we can set up the following equation:
0.06X + 48 - 0.04X = 62
0.02X = 62 - 48
0.02X = 14
Divide both sides by 0.02
X = 700
He invested 700 at 6% interest.
He invested 1200 - 700 = 500 at 4% interest.
