Investment problems such as those in Exercise can be solved by using a method similar to t...

Investment problems such as those in Exercise can be solved by using a method similar to the one explained in Example, along with the simple-interest formula I = PRT, where I is the interest earned, P is the initial amount of money deposited, R is the annual interest rate as a decimal, and T is the time the money is deposited in years. Solve each problem. Let T = 1 year for each exercise.

Example

Buying and Selling Land Bobby Aguillard bought two plots of land for a total of $120,000. When he sold the first plot, he made a profit of 15%. When he sold the second, he lost 10%. His total profit was $5500. How much did he pay for each piece of land?