Question

a man invested a total of $3,000 in two investments. he made a profit of 3% on the first investment and 4% on the second investment. if his total profit was $107, what was the amount of each investment?

Answer 1

Let the amount that the man placed in the first investment be
`x`. Then, the amount that he placed in the second investment has to be
`\$3000 - x`. Using those as the investment amounts, the total profit is given by adding the two separate profits as shown:


`.03x + .04(\$3000 - x) = \$107`

We can now solve for x:


`.03x + .04(\$3000 - x) = \$107`

`.03x + (\$120 - .04x) = \$107`

`\$120 - .01x = \$107`

`.01x = \$13`

`x = \$1300`

Thus,

First investment:
`x = \bf \$1300`
Second investment:
`\$3000 - x = \$3000 - \$1300 = \bf \$1700`