David used part of $100,000 to purchase a house. Of the remaining portion, he invested 1/3 of it at 4 percent simple annual interest and 2/3 of it at 6 percent simple annual interest. If after a year the income from the two investments totaled $320, what was the purchase price of the house?
$96,000
$94,000
$88,000
$75,000
$40,000
100,000 = 100 K
h = house
[100k - h]/3 * (4/100) + [100k - h]/3* (12/100) = 320
Taking [100k - h]/3 * (4/100) as a factor
[100k - h]/3 * (4/100) *[ 1+3] = 320
[100k - h]/3 * (4/100)*4 = 320
[100k - h]*16/100 =320 *3
100k - h = (320*3*100)/16
h= 96000
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