Question

Susan Marciano invested part of her 40,000 bonus in a fund that paid an 11% profit and invested the rest in stock that surffered a 3% loss. Find the amount of each investment if her overall net profit was $1180.

Answer 1

This question can be solved as follows:
11% * X + (-3%) * (40000-x) = $1180

.11x - 3(40000-x) = 1180

.11x - 1200 +.03x = 1180

.14x = 1180 + 1200

.14x = 2380

x= 2380/.14 x
= 17,000

So, first investment was $17,000 and second was $23,000