A man has $ 10,000 to invest. He invests $ 4000 at 5 % and $ 3500 at 4 %. In order to have a yearly income of $ 500, he must invest the remainder at	Select the correct option
A) 6 %  B) 6.1 %  C) 6.2 %  D) 6.3 %  E) 6.4 %

Rationale: income from $ 4000 at 5 % in one year = $ 4000 of 5 % . = $ 4000 × 5 / 100 . = $ 4000 × 0.05 . = $ 200 . income from $ 3500 at 4 % in one year = $ 3500 of 4 % . = $ 3500 × 4 / 100 . = $ 3500 × 0.04 . = $ 140 . total income from 4000 at 5 % and 3500 at 4 % = $ 200 + $ 140 = $ 340 . remaining income amount in order to have a yearly income of $ 500 = $ 500 - $ 340 . = $ 160 . total invested amount = $ 4000 + $ 3500 = $ 7500 . remaining invest amount = $ 10000 - $ 7500 = $ 2500 . we know that , interest = principal × rate × time interest = $ 160 , principal = $ 2500 , rate = r [ we need to find the value of r ] , time = 1 year . 160 = 2500 × r × 1 . 160 = 2500 r 160 / 2500 = 2500 r / 2500 [ divide both sides by 2500 ] 0.064 = r r = 0.064 change it to a percent by moving the decimal to the right two places r = 6.4 % therefore , he invested the remaining amount $ 2500 at 6.4 % in order to get $ 500 income every year . the answer is ( e )
Answer: E