Question

Two investments totaling $61,000 produce an annual income of $3240. One investment yields 9% per year, while the other yields 3% per year. How much is invested at each rate?

Answer 1

$\huge \bf\mathfrak \red{ANSWER:}$

RS.23,500 AND RS. 37,500

$\boxed{Step-by-step verification:}$

Let, one investment be x and another be 61,000-x.

Then,

Income from first investment

= 9% of x

= 0.09x

Again,

Income from second investment

=3%of(61000−x)

=1830−0.03x

So,

Total income=I¹+I²

Or,

3240=0.09x+1830−0.03x

Or,

1410 = 0.06x

•°•

x = 23500x=23500

Again,

another investment

=61000−23500

=37500

So, the two investments are Rs. 23,500 and Rs. 37,500.