Question

An investment firm invested in two companies last year. They invested $11,000 in Company A and made a profit of 24% . They invested $14,000 in Company B and made a profit of 15% . Answer the questions below. Do not do any rounding.

(a) What was the investment firm's total profit? $
(b) What was the percent profit for their total investment? %

Answer 1

first off, "whatever%" of "anything" is just (whatever/100) * anything

part A)

so... firm A got 11,000 invested, turned a profit of 24%, how much is 24% of 11000? well (24/100) * 11000

firm B got 14,000 invested, and returned 15% in profits, how much is 15% of 14000? (15/100) * 14000

part B)

for the amounts above, we get 2640 and 2100 respectively

so, the total profit "amount" is 2640 + 2100 or 4740

the total investement was 11000+14000 = 25000

if 25000 is the 100%, how much is 4740 in percentage?


`\bf \begin{array}{ccllll} amount&\%\\ \text{\textemdash\textemdash\textemdash}&\text{\textemdash\textemdash\textemdash}\\ 25000&100\\ 4740&x \end{array}\implies \cfrac{25000}{4740}=\cfrac{100}{x}`

solve for "x"

Answer 2

(a) $4,740 (b) 18.96%

Explanation:

An investment firm invested in two companies.

In company A they invested $11,000 and made a profit of 24%.

In company B they invested $14,000 and made a profit of 15%.

(a) We will calculate the firm's total profit :

In Company A profit = 24% of 11,000

= 0.24 × 11,000

= $2,640

In Company B profit = 15% of 14,000

= 0.15 × 14,000

= $2,100

Total profit = $2,640 + $2,100 = $4,740

(b) We will calculate the percent profit for their total investment.

Total investment = $25,000

Total profit = $4,740

Percentage =
`(4740)/(25000)* 100`

= 18.96%