1953 AHSME Problems/Problem 17
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Problem
A man has part of $ invested at
% and the rest at
%. If his annual return on each investment is the same, the average rate of interest which he realizes of the $4500 is:
Solution
You are trying to find , where
is the principle for one investment. To find
, solve
.
will come out to be
. Then, plug in x into the first equation,
, to get
. Finally, convert that to a percentage and you get
.