Question

A man has $ 10,000 to invest. He invests $ 4000 at 5 % and $ 3500 at 4 %. In order to have a yearly income of $ 500, he must invest the remainder at:<br /><br />(a) 6 % , (b) 6.1 %, (c) 6.2 %, (d) 6.3 %, (e) 6.4 %





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Answer 1

Given :

Total Amount = $ 10,000.

Amount he invests = $ 4000 at 5 % and = $ 3500 at 4 %.

Yearly Income = $ 500.

According to the question :

Reminder cash :

Total - Amount he invests

= 10000 - 4000 - 3500

= 2500 .

Amount he invests :

A) $ 4000 at 5 %

= 4000 × 5 / 100

= $ 200 .

B) $ 3500 at 4 %

= 3500 × 4 / 100

= $ 140.

Remainder income :

Yearly income - Amount he invests A and B

= 500 - 200 - 140

= 160.

Final Answer :

Remainder income × 100 / Remainder cash

= ( 160 × 100 ) / 2500

= 6.4 .

Therefore the answer is 6.4.

option E

Hope it helps you mate .

@ A♑⛎SHA ❤✌

Answer 2

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