Question 1110410
For the 3% rate:
(1) {{{ I = 3P*.03*1 }}}
For the 2% rate:
(2) {{{ 11 - I = P*.02*1 }}}
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Substitute (1) into (2)
(2) {{{ 11 - .03*3P = .02P }}}
(2) {{{ 11 - .09P = .02P }}}
(2) {{{ .11P = 11 }}}
(2) {{{ P = 100 }}}
and
{{{ 3P = 300 }}}
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He invested $300 @ 3% and $100 @ 2%
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check:
(1) {{{ I = .09P }}}
(1) {{{ I = .09*100 }}}
(1) {{{ I = 9 }}}
and
(2) {{{ 11 - I = .02P }}}
(2) {{{ 11 - I = .02*100 }}}
(2) {{{ I = 11 - 2 }}}
(2) {{{ I = 9 }}}
OK