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