Answer
$61,000$ for master’s degree and $55,000$ for bachelor’s degree.
Work Step by Step
Let the average yearly salary for a master’s degree be\[M\]. Let the average yearly salary for a bachelor’s degree be \[B\]. From the given first condition we get the linear equation like,
\[M=2B-49000\] (I)
From the second condition we get the linear equation like,
\[M+B=116000\] (II)
By observing these both equations are simultaneous linear equations. We can solve by substituting \[M\]in equation 2. By substituting we get,
\[\begin{align}
& 2B-49000+B=116000 \\
& 3B=165000 \\
& B=55000
\end{align}\]
Substituting \[B=55000\] in equation 2 we get,
\[\begin{align}
& M+55000=116000 \\
& M=61000
\end{align}\]
By solving both equations we get the average yearly salary for a master’s degree is $61,000 and for a bachelor’s degree is $55,000.
