114k views
3 votes
How much did he invest in fund b if both funds together returned a 8% profit

How much did he invest in fund b if both funds together returned a 8% profit-example-1
User Nish
by
8.3k points

1 Answer

7 votes

Let x the amount invested in fund B, then, you have that fund B returned 0.1*x (10% of the investment ) and fund A returned 0.03*4000 = 120 (3% of the investment)

Moreover, both funds returned together 8%, that is, it returned

0.08*(x + 4000).

Now, consider that amount returned by both funds equal the sum of the amount returned by each fund, then, you have:

0.1x + 120 = 0.08(x + 4000) expand the factor right side

0.1x + 120 = 0.08x + 320 subtrac 0.08x and subtract 120 both sides

0.1x - 0.08x = 320 - 120 simplify like terms

0.02x = 200 divide by 0.02 both sides

x = 200/0.02

x = 10000

Hence, the investment in fund B was $10000

User Natevw
by
7.9k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories