Question

Nicole invested her savings in two investment funds. The amount she invested in Fund A was $3000 less than the amount she invested in Fund B. Fund A returned a 6% profit and Fund B returned a 8% profit. How much did she invest in Fund B, if the total profit from the two funds together was $2060 ?

Answer 1

Let us denote the amount of investment in the Fund B with x. We know that Fund B returned 8% and that in Fund A Nicole invested $3000 less than the amount she invested in Fund B, so we can write: x-3000Fund A returned 6%.
Interest = 2060
The percent has been converted by multiplying the equation by 100
8x+6(x-3000)= 2060*100
8x+6x-18000=206000
14x=206000+18000
14x=224000
x=16000
Nicole invested in Fund B $16000 and in Fund A $16000-3000=13000.