1956 AHSME Problems/Problem 4

Problem #4

A man has $\textdollar{10,000 }$ to invest. He invests $\textdollar{4000}$ at 5% and $\textdollar{3500}$ at 4%. In order to have a yearly income of $\textdollar{500}$ , he must invest the remainder at:

$\textbf{(A)}\ 6\%\qquad\textbf{(B)}\ 6.1\%\qquad\textbf{(C)}\ 6.2\%\qquad\textbf{(D)}\ 6.3\%\qquad\textbf{(E)}\ 6.4\%$

Solution

The man currently earns $4000 \cdot \frac{5}{1000} + 3500 \cdot \frac{4}{1000} = 340$ dollars. So, we need to find the value of $x$ such that $2500 \cdot \frac{x}{1000} = 160.$ Solving, we get $x = \boxed{\textbf{(E)} \quad 6.4\%.}$

1956 AHSC (Problems • Answer Key • Resources)
Preceded by Problem 3	Followed by Problem 5
1 • 2 • 3 • 4 • 5 • 6 • 7 • 8 • 9 • 10 • 11 • 12 • 13 • 14 • 15 • 16 • 17 • 18 • 19 • 20 • 21 • 22 • 23 • 24 • 25 • 26 • 27 • 28 • 29 • 30 • 31 • 32 • 33 • 34 • 35 • 36 • 37 • 38 • 39 • 40 • 41 • 42 • 43 • 44 • 45 • 46 • 47 • 48 • 49 • 50
All AHSME Problems and Solutions

The problems on this page are copyrighted by the Mathematical Association of America's American Mathematics Competitions.

Page

Toolbox

Search

1956 AHSME Problems/Problem 4

Problem #4

Solution

See Also