1963 TMTA High School Algebra I Contest Problem 37

Revision as of 11:36, 2 February 2021 by Coolmath34 (talk | contribs) (Created page with "== Problem == A man has <math>\$3000</math> invested at <math>x\%</math> and <math>\$2000</math> at <math>(x+1)\%.</math> The annual interest on the investments totals <math>\...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

Problem

A man has $$3000$ invested at $x\%$ and $$2000$ at $(x+1)\%.$ The annual interest on the investments totals $$220.$ Find the $x$ rate.

$\text{(A)} \quad 2\% \quad \text{(B)} \quad 4\% \quad \text{(C)} \quad 3\frac{1}{2}\% \quad \text{(D)} \quad 5\% \quad \text{(E) NOTA}$

Solution

Plug in each of the answer choices. We see that the right answer is $\boxed{\text{(B)}}.$ \[100(4/3000)+(5/2000)=220\]

See Also

1963 TMTA High School Mathematics Contests (Problems)
Preceded by
Problem 36
TMTA High School Mathematics Contest Past Problems/Solutions Followed by
Problem 38