$3000 and $12000
If you know the principal amount, the rate of interest, and the time periods, you can use the simple interest formula to calculate the interest.
The following is a simple interest formula:
SI = P *R * T /100
Where SI = simple interest
Principal (P)
interest rate, or R (in percentage)
T is the time period (in years)
The following formula is used to determine the overall sum:
Sum (A) = Principal (P) + Interest (I)
Where,
The entire amount repaid at the conclusion of the borrowing period is indicated by the letter (A).
You can also write the total amount formula for simple interest as follows:
A = P(1 + RT)
X+Y = $15000
0.04x + 0.07y = 960
0.04x + 0.07 ( 15000 - x) = 960
0.04x + 1050 - 0.07x = 960
0.03x = 90
x = $3000
y= $12000
To learn more about simple interest, refer to https://brainly.com/question/20690803
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