Yes, this is true (I'm assuming by ``linear algebraic group" you mean _smooth_ affine group), over any field $k$. In fact solvability of $G$ can be checked by checking solvability in the usual group-theoretic sense of $G(K)$ for any algebraically closed field $K$ containing $k$. Combining this with compatibility of the formation of the (smooth) derived $k$-subgroup scheme of $G$ gives what you want (smoothness is what ensures that, over an algebraically closed field $K$, the scheme-theoretic derived series ends in $1$ if and only if the derived series of the abstract group $G(K)$ does).