Question

Mr. Ferrier invested $26,000. Some was invested in bonds that made a 5% profit, and the rest was put in stocks that made an 8% profit. How much did mr. Ferrier invest in bonds if his total profit on both types of investments was $1,420

Answer 1

bonds=22000

stock=4000

Explanation:

let b for bonds , and s for stock

b+s=26000

0.05 b +0.08 s=1420

to solve (by elimination)

1- multiply first equation with 0.05 to eliminate b

0.05 b+0.05 s=1300

0.05b+0.08s=1420

subtract two equations:

0.05b+0.05s-0.05b-0.08s=1300-1420

-0.03s=-120

s=120/0.03=4000

b+s=26000

b=26000-4000=22000

check:0.05(22000)+0.08(4000)=1420

Answer 2

$22000

Explanation:

x*0.05+(26000-x)*0.08= 1420

0.05x - 0.08x + 2080= 1420

0.03x=2080 -1420

0.03x= 660

x= 660/0.03

x= 22000

$22000 = 5% bonds

$4000 = 8% stocks