A man has 34000 to invest He invests some at 3 and the balan

A man has $34,000 to invest. He invests some at 3% and the balance at 4%. His total annual interest income is $1175. Find the amount he invests at each rate.

Solution

Solution:- Let x amount is invested in 3% interest and (34000 -x) is invested in 4% interest

Interest = PRT/100

1175 = (3x/100) + 4(34000 -x)/100

1175X100 = 3x + 136000 - 4x

117500 - 136000 = -x

x = 18500

and (34000 - 18500) = 15500