Question

Bob invested his savings in two investment funds. The $15,000 that he invested in Fund A returned a 3% profit. The amount that he invested in Fund Breturned a 10% profit. How much did he invest in Fund B, if both funds together returned a 5% profit?

Answer 1

$6000

Step-by-step explanation

We have that Bob invested $15,000 in the Fund A with 3% profit.

Let the amount he invested in Fund B with 10% profit be x.

Let the total amount invested in both accounts be y.

We need to find x.

This means that:

y = 15000 + x ____(1)

Both accounts returned 5% profit, so:

(15000 * 3) + (x * 10) = (y * 5)

=> 45000 + 10x = 5y ____(2)

Put (1) in (2):

45000 + 10x = 5(15000 + x)

45000 + 10x = 75000 + 5x

Collect like terms:

10x - 5x = 75000 - 45000

5x = 30000

x = 30000 / 5

x = $6000

Therefore, he invested $6000 into Fund B.