Question

Susan Marciano invested part of her $29,000 bonus in a fund that paid a 10% profit and invested the rest in a stock that suffered a 4% loss. Find the amount of each investment if her overall net profit was $1,080 The amount invested at 10% is? The amount invested in stock is:_____

Answer 1

Answer:The amount invested at 10% is $16000

The amount invested in stock is $13000

Explanation:

Let x represent the amount of money that Susan invested in the fund that paid a 10% profit.

Let y represent the amount of money that Susan invested in the stock that that suffered a 4% loss.

Total amount invested is 29000. This means that

x + y = 29000

The profit made on the fund is

10/100 × x = 0.1x

The loss made on the stock is

4/100 × y = 0.04y

if her overall net profit was $1,080, it means that

0.1x - 0.04y = 1080 - - - - - - - -1

Substituting x = 29000 - y. It becomes

0.1(29000 - y) - 0.04y = 1080

2900 - 0.1y - 0.04y = 1080

- 0.1y - 0.04y = 1080 - 2900

- 0.14y = - 1820

y = - 1820/ - 0.14 = 13000

Substituting y = 13000 into x = 29000 - y, it becomes

x = 29000 - 13000

x = 16000