SOLUTION: If $4000 is invested at 6%, how much must be invested at 3% so that the total annual income will be $270?

Question 103129: If $4000 is invested at 6%, how much must be invested at 3% so that the total annual income will be $270?
Answer by chitra(359) (Show Source): You can put this solution on YOUR website!
It is given that $ 4000 is invested at 6%

So that we get $240.

We will have to find What amount must be invested at 3% to make the total equals $270.

so 3 % of x = 30

==>

==> 3x = 30 * 100

==>

==> x = 1000

So we must invest $ 1000 to make the total income equal to $270.

Thus the solution.

regards

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