SOLUTION: A man has $20,000 invested at 7% and %50,000 invested at 4% simple interest. What additional sum must he invest at 6% to give him an overall return of 5%?
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Question 128549: A man has $20,000 invested at 7% and %50,000 invested at 4% simple interest. What additional sum must he invest at 6% to give him an overall return of 5%? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! overall percent gain = (sum of separate gains) / (total amount invested)
multiply both sides by
He must invest $10,000 at 6% to have an overall return of 5%
