A man invests $5,200, part at 4% and the balance at 3%. If his total income for the two investments is $194, how much money did he invest at each rate?
4% of X + 3% of Y = 194 and X+Y=5200 multiply by 4
0.04X+0.03Y=194 multiply by 100
4X+3Y=19400 (1) and 4X+4Y=20800 (2)
(2) - (1)
4X-4X+4Y-3Y=20800-19400
Y=$1400
X=$5200-$1400 = $3800
(This is based on simple interest)