Question

A man invest 5,200,part at 4% and the balance at 3%. If his total income for the two investments is $194,how much money did he invest at each rate

Answer 1

Let the amount invested at 4% be = x

Let the amount invested at 3% be = y

Given is:

`x+y=5200` or
`x=5200-y` .... (1)

As, total income for the two investments is $194, so equation is:

`0.04x+0.03y=194` ....(2)

Putting value of x from (1) in (2)

`0.04(5200-y)+0.03y=194`

`208-0.04y+0.03y=194`

`0.01y=14`

`y=1400`

And x=5200-y

`x=5200-1400=3800`

Hence, money invested at 4% is $3800 and money invested at 3% is $1400