SOLUTION: A man invested a sum of money at 3% and three times that amount at 2%. If the total interest received on the investments was Php 270, find the sum invested at each rate

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 Click here to see ALL problems on Mixture Word Problems Question 63247: A man invested a sum of money at 3% and three times that amount at 2%. If the total interest received on the investments was Php 270, find the sum invested at each rateAnswer by uma(370)   (Show Source): You can put this solution on YOUR website!Let the amount invested at 3% be x So the amount invested at 2% = 3x Interest on x at 3% for an year = PTR = x*0.03*1 = 0.03x Interest on 3x at 2% for an year = PTR = 3x * 0.02 * 1 = 0.06x Total interest = 270 ==> 0.03x + 0.06x = 270 ==> 0.09x = 270 ==> 0.09x/0.09 = 270/0.09 ==> x = 3000 So 3x = 9000 He invested 3000 at 3% and 9000 at 2% Good Luck!!!