SOLUTION: A man invests 1/3 of his capital at 3% and the remainder at 4%. What is his capital if his total income is 44,000?

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Question 654958: A man invests 1/3 of his capital at 3% and the remainder at 4%. What is his capital if his total income is 44,000?
Answer by MathLover1(20849) About Me  (Show Source):
You can put this solution on YOUR website!
Let IC=+the_+invested+_amount_+of_+capital.
After changing the interest rate percentages to their decimal equivalents,
we can write the equation that relates the interest earned on each of the two
invested amounts to the total interest earned.
%281%2F3%29IC%2A%280.03%29%2B%282%2F3%29IC%2A%280.04%29+=+44000.... simplify and solve for IC

%281%2F3%29IC%2A%283%2F100%29%2B%282%2F3%29IC%2A%284%2F100%29+=+44000

IC%2F100%2B8IC%2F300+=+44000... add the fractions on the left side
%283IC%2B8IC%29%2F300+=+44000.... multiply both sides by 300
11IC+=+13200000.... now divide both sides by 11
IC+=+1200000
The answer is: the man invested capital in amount of $1200000