Question

Susan Marciano invested 16,000 bonus in a fund that paid 10% profit and invested the rest in stock that suffered a 3% loss. Find the amount of each investment if her overall investment if her overran net profit was 690 The amount invested at 10% is ?The amount invested in stock is ?

Answer 1

The amount invested at 10% is $9000

The amount invested in stock is $7000

Step-by-step explanation

Let x= amount invested in the fund

y= amount invested in stock

x + y = 16 000

0.1x - 0.03y = 690

From the first equation, x = 16 000 - y

Substitute the above into the second equation

0.1(16000 - y) - 0.03y = 690

open the parenthesis

1600 - 0.1y -0.03y = 690

1600 - 0.13y = 690

Subtract 1600 from both-side of the equation

-0.13y = 690 - 1600

-0.13y = -910

Divide both-side by -0.13

y =7000

But x = 16 000 - y

x = 16 000 - 7000

x = 9000

Therefore,

The amount invested at 10% is $9000

The amount invested in stock is $7000